The euro zone's Harmonized Consumer Price Index (HICP) rose 2.5% in the year to June, slightly slower than the 2.6% increase in May, official data from Eurostat showed on Tuesday. Market expectations had been for a 2.5% increase in the reporting period.
Core HICP rose 2.9% year-on-year over the same period, the same pace as in May and above expectations of 2.8%.
On a monthly basis, the European Union's HICP rose 0.2% in June, up from a 0.2% increase in May. Core HICP inflation rose 0.3% m/m, up from a previous increase of 0.4% in the same period.
The European Central Bank (ECB) has an inflation target of 2.0%. The HICP inflation data from the Old Continent will have a major impact on market assessments of the ECB's second rate cut.
Key details from the eurozone inflation report (via Eurostat)
“Looking at the main components of euro area inflation, the services sector is expected to post the strongest annual growth in June (4.1%, stable compared to May), followed by the food, alcohol and tobacco sector (2.5%, 2.6% in May), non-energy industrial products sector (0.7%, stable compared to May) and the energy sector (0.2%, 0.3% in May).”
EUR/USD Reaction to Eurozone Inflation Report
The euro remains unfazed by mixed inflation data from the eurozone. At the time of writing, EUR/USD is trading at 1.0171, down 0.18% from the previous day.
(This story was corrected at 9:09 a.m. GMT on Tuesday to say that “the euro area's consumer price index (HICP) rose 2.5 percent in the year to June, slightly slower than the 2.6 percent increase in May,” not the higher figure.)
Today's Euro Price
The table below shows the percentage change of the Euro (EUR) against the major listed currencies today: The Euro was weakest against the Canadian Dollar.
| USD | EUR | GBP | JPY | CAD | Australian Dollar | NZD | Swiss franc | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.21% | 0.15% | 0.08% | -0.04% | 0.15% | 0.33% | 0.17% | |
| EUR | -0.21% | -0.06% | -0.10% | -0.25% | -0.06% | 0.10% | -0.05% | |
| GBP | -0.15% | 0.06% | -0.04% | -0.17% | -0.02% | 0.17% | 0.00% | |
| JPY | -0.08% | 0.10% | 0.04% | -0.13% | 0.07% | 0.22% | 0.06% | |
| CAD | 0.04% | 0.25% | 0.17% | 0.13% | 0.19% | 0.37% | 0.20% | |
| Australian Dollar | -0.15% | 0.06% | 0.02% | -0.07% | -0.19% | 0.17% | 0.00% | |
| NZD | -0.33% | -0.10% | -0.17% | -0.22% | -0.37% | -0.17% | -0.17% | |
| Swiss franc | -0.17% | 0.05% | -0.00% | -0.06% | -0.20% | -0.00% | 0.17% |
The heat map displays the percentage change between major currencies. The base currency is selected from the left column and the quote currency is selected from the top row. For example, if you select Euro from the left column and move along the horizontal line to US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
