{"id":47120,"date":"2023-06-28T12:58:00","date_gmt":"2023-06-28T11:58:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=47120"},"modified":"2023-06-28T14:15:05","modified_gmt":"2023-06-28T13:15:05","slug":"midday-brief-inflation-focus-in-europe","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/midday-brief-inflation-focus-in-europe\/","title":{"rendered":"Midday Brief &#8211; Inflation focus in Europe"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"47120\" class=\"elementor elementor-47120\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ae84ad0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ae84ad0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-93439a5\" data-id=\"93439a5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0af4a17 elementor-widget elementor-widget-text-editor\" data-id=\"0af4a17\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The annual inflation rate in Italy fell to 6.4% in June of 2023, the lowest in 14 months and well under market expectations of 6.8%, dropping significantly from the 7.6% in the previous month according to preliminary estimates.<\/p><p>The decline was largely attributed to base year effects as energy costs have retreated from June-2022 peaks caused by the Russian invasion of Ukraine.<\/p><p>The CPI slowed significantly for non-regulated energy (8.4% vs 20.3% in May), processed food, and services related to transportation. On the other hand, consumer prices continued to accelerate for unprocessed food, limiting a further slowdown to inflation.<\/p><p>Hence, the core rate eased to 5.6% from 6% in the previous month and the record-high of 6.3% in February.\u00a0Italian headline consumer prices stagnated in June of 2023, holding after a 0.3% increase in the previous month as a sharp increase in food costs offset a decline in the price of housing and utilities.<\/p><p>A number of ECB speakers were also on the wires this after. ECB&#8217;s de Guindos stated July rate hike is set and noted the ECB&#8217;s Centeno said that \u201c<em>Inflation is easing as quickly as it went up<\/em>\u201d.<\/p><p>He added that \u201c<em>Over-tightening is not an acceptable position<\/em>\u201d and that on the European economy his thoughts were that the \u201c<em>Economy already taking a hit, inflation will react are definitely getting.<\/em>\u201d<\/p><p>We also got some housing data this afternoon before the US session, with USA MBA mortgage applications for 23 June came in at +3.0% vs +0.5% prior. The Market index 216.1 versus 209.8 prior.<\/p><p>The figures were a decent bounce in mortgage applications in the past week as both purchases and refinance activities pick up, further suggesting the USA housing market is not crashing.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The annual inflation rate in Italy fell to 6.4% in June of 2023, the lowest in 14 months and well under market expectations of 6.8%, dropping significantly from the 7.6% in the previous month according to preliminary estimates. The decline was largely attributed to base year effects as energy costs have retreated from June-2022 peaks [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":46081,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[54,101],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Midday Brief - Inflation focus in Europe - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/midday-brief-inflation-focus-in-europe\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Midday Brief - Inflation focus in Europe\" \/>\n<meta property=\"og:description\" content=\"The annual inflation rate in Italy fell to 6.4% in June of 2023, the lowest in 14 months and well under market expectations of 6.8%, dropping significantly from the 7.6% in the previous month according to preliminary estimates.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/midday-brief-inflation-focus-in-europe\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-28T11:58:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-28T13:15:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/06\/gettyimages-1409887992.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"543\" \/>\n\t<meta property=\"og:image:height\" content=\"362\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Midday Brief - Inflation focus in Europe\" \/>\n<meta name=\"twitter:description\" content=\"The annual inflation rate in Italy fell to 6.4% in June of 2023, the lowest in 14 months and well under market expectations of 6.8%, dropping significantly from the 7.6% in the previous month according to preliminary estimates.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/midday-brief-inflation-focus-in-europe\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/midday-brief-inflation-focus-in-europe\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Midday Brief &#8211; 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