Spain CPI estimate for June actually came out much higher than expected, adding +0.6% MoM compared to flat last month and well above .2% estimate. Harmonized HICP is also +0.6%. Not sure why Bloomberg only focuses on YoY and tries to spin this as good news while we all know central bankers mainly look at the trend of the most recent months when deciding to hike further or not.
German CPI also added +0,3% compared to -0.1% last month so also ticking up again.
While these are called estimates at the end of each month, in Europese those are always very close (and often spot on) compared to the final CPI numbers released 2 weeks later.
Bond yields in Europe are going higher.
Here you can find those today released Spain and German inflation numbers yourself if you wanna verify my data: https://www.investing.com/economic-calendar/
Submitted June 29, 2023 at 10:00AM by ThinkBigger01 https://ift.tt/6suOcFA
