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Investing.com – European inflation data released showed consumer price inflation moderated in June, but core inflation, which excludes the more volatile food and energy prices, remained elevated.
The rate recorded in June was 5.5%, while it was expected to be 5.6%. The benchmark index remained at 5.4%, higher than expected.
The core inflation rate is at its lowest since January 2022, but is still far from the central bank’s target of 2%. The decline is attributed to a decline in energy prices.
Christine Lagarde, President of the Central Bank, said in her latest comments on Tuesday that inflation is still high, and it is too early to declare an end to the war on rising prices. She said inflation will remain high for a while longer, but the nature of the inflationary challenges in the Eurozone is changing.
Lagarde confirmed a hike in July, but expressed uncertainty about a rate hike after that, saying it would depend on the data.
And it is retreating today against the backdrop of expectations of central banks raising interest rates, which is not in favor of useless.
While the American continues to rise above 103 levels, and waits for the preferred inflation data of the Federal Reserve, which will be released today at 12:30 GMT (15:30 GMT).
The price of the euro-dollar is declining today, to record 1.0846, with a decline of 0.17%.
2023-06-30 09:59:00
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