Research Detail
| 2023/06/30 / Erste Group Research |
Inflation declines thanks to energy prices Eurozone inflation for June was published today. Thanks to rapidly declining dynamics in energy and food prices, headline inflation fell to 5.5% y/y. In contrast, core inflation rose slightly to 5.4% y/y. As expected, the price dynamics of goods prices have declined within core inflation, but services inflation has risen significantly. Although Austrian inflation has started to decline in recent months, it still remains much higher compared to the EZ average. One of the reasons for this difference lies in energy prices, which in most EZ countries peaked in summer 2022 and since then have been on the decline, with energy inflation reaching negative values in spring 2023. The unusually high inflation in Austria has also been reflected in very high core inflation, which peaked at 8.3% in April 2023 and was still at 7.9% in May (EZ: 5.3%). Adding to the inflation gap, the weight of core inflation in headline inflation is higher for Austria (75%) than for the Eurozone (70%). |
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General information
| Author | Erste Group Research |
| Date | 2023/06/30 |
| Language |  |
| Product name | Week ahead |
| Topic in focus | Macro/ Fixed income |
| Economy in focus | Eurozone, United States |
| Currency in focus | Euro, US Dollar |
| Sector in focus | - |
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