Eurozone Preliminary HICP inflation ticks up to 2% YoY in June vs. 2% expected

The Eurozone Harmonized Index of Consumer Prices (HICP) increased at an annual pace of 2% in June, following a 1.9% growth reported in May, the official data released by Eurostat showed Tuesday.

The data came in line with the market expectations.

The core HICP rose 2.3% year-over-year (YoY) in June, at the same pace as seen in May, meeting the 2.3% estimate.

The European Central Bank’s (ECB) inflation target is 2.0%. The old continent’s HICP inflation data significantly impacts the market’s pricing of the ECB’s future interest rate cuts.

Key details from the Eurozone inflation report (via Eurostat)

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