The final euro-zone inflation data for July show that global supply problems have not pushed up goods prices dramatically, and “re-opening inflation” has been limited so far. We think that base effects will cause core inflation to roughly double in August, but we expect it to fall again in 2022 to well below 2%.
We’ll be discussing the euro-zone inflation outlook in a special Drop-In session on Wednesday 18th August at 0900 ET/1400 BST. Register here.
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