| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:45 | France | CPI, y/y | June | 0.7% | 0.7% | 0.9% |
| 06:45 | France | CPI, m/m | June | -0.1% | 0.2% | 0.3% |
| 09:00 | Eurozone | Consumer Confidence | June | -15.1 | -15.3 | -15.3 |
| 09:00 | Eurozone | Industrial confidence | June | -10.4 | -9.9 | -12.0 |
| 09:00 | Eurozone | Economic sentiment index | June | 94.8 | 95.1 | 94.0 |
EUR strengthened against most of its major counterparts in the European session on Friday as investors digested flash consumer price index (CPI) numbers from France and Spain, the Eurozone’s second and fourth-biggest economies.
National Institute for Statistics and Economic Studies (Institut National de la Statistique et des Études Économiques, INSEE) reported its preliminary estimates showed that its inflation measure, harmonised for comparability across the Eurozone, increased 0.8% YoY in June, accelerating from 0.6% YoY in the previous month. This marked the first rebound in the annual inflation rate since December 2024. Economists had forecast a gain of 0.7% YoY.
Meanwhile, the National Statistics Institute (Instituto Nacional de Estadística, INE) said Spain’s harmonised inflation likely came in at 2.2% YoY, up from 2.0% in May, also above economists’ expectations of 2.2% YoY. This was the first acceleration in the country’s annual inflation rate since January.
Despite slightly stronger-than-anticipated increases in June, the latest CPI figures indicate a relatively benign inflation situation across the Eurozone, justifying the European Central Bank’s expectations that the Eurozone’s inflation will settle at around 2% target on a sustained basis this year.
The preliminary June CPI figures for the euro area as a whole will be released on Tuesday. Economіsts forecast the headline inflation rate of 2.0% YoY, up from 1.9% YoY in May, and the core inflation rate of 2.4% YoY, up from 2.3% YoY.