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EMU’s CPI expected to drift lower – Danske Bank

FXStreet (Edinburgh) - Flemming Nielsen, Senior Analyst at Danske Bank, sees the inflation figures in the euro area printing a new cycle low at 0.3% in August.

Key Quotes

“We expect euro inflation to decline to a new cycle-low of 0.3% y/y in August”.

“The decline should follow due to lower energy price inflation, whereas core inflation is expected to remain stable at 0.8% and food price inflation should be less negative”.

“The persistent low inflation in the euro area has resulted in a considerable decline in market-based inflation expectations during August and another decline in actual inflation could result in new downward movements in inflation expectations”.

“However, we ‘only’ expect a very dovish stance from the ECB together with an announcement of further details about purchases of Asset Backed Securities”.

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