Euro area inflation likely down to 1.30% y/y in June – Danske Bank

Euro area will release preliminary inflation for June and analysts at Danske Bank expect it to print a figure of 1.30% y/y.

Key Quotes

“Given the German, Italian and Spanish figures (and our estimate that French HICP inflation will have declined by 0.1pp) euro area inflation should be down by 0.14pp from 1.40% y/y in May. Hence, we estimate it will round up to 1.3%. Note that package tours have a very low weight in French HICP, so the upside risk is limited.”