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Euro-area flash inflation: Undramatic
June flash inflation was in line with expectations of a small drop to 2.5% y/y, while core inflation surprised a tad to the upside remaining unchanged against expectations of a small drop. Today's release doesn't change the ECB outlook. Euro-area slowed to 2.5% y/y in June according to the flash estimate from 2.6% y/y in May. That was in line with expectations. The main drivers were food and energy prices, while core inflation remained unchanged at 2.9% y/y in June. The break-down of core inflation shows that both core goods inflation and core services inflation remained unchanged in June despite the slowdown in ... (full story)