Eurozone CPI slowed from 5.5% yoy to 5.3% yoy in July, matched expectations. CPI core (excluding energy, food, alcohol & tobacco) was unchanged at 5.5% yoy, above expectation of 5.4% yoy.
Looking at the main components, food, alcohol & tobacco is expected to have the highest annual rate in July (10.8%, compared with 11.6% in June), followed by services (5.6%, compared with 5.4% in June), non-energy industrial goods (5.0%, compared with 5.5% in June) and energy (-6.1%, compared with -5.6% in June).