HomeBitcoinNew European inflation record of 8.6 % - Worse than anticipated

New European inflation record of 8.6 % – Worse than anticipated


According to figures released on Friday, Eurozone inflation reached a new high in June, as the ECB prepared for its first rate rise in 11 years.

According to preliminary numbers from the European statistics office Eurostat, the total CPI was 8.6% (year on year) in June. The rate had risen to 8.1% in May, and the forecast was predicting an increase of 8.4 % in June. As a result, the statistics released today are a disappointment.

Remember that Germany stunned everyone at the outset of the week by revealing a 0.5% point decline in monthly inflation, thanks in part to new government subsidies designed to offset the impact of rising oil costs. 

France and Spain, on the other hand, set new inflation records in June, with the latter topping the 10% mark for the first time since 1985, according to Reuters. This has helped the market prepare for the announcement of the statistics today.

The impact of these numbers on markets has been minimal, albeit we have witnessed a tiny negative response in the CAC 40 and a slight gain in the Euro, as indicated particularly by the EUR/USD pair.

Leave a Reply


Argo Blockchain Sells Bitcoin Mining Facility to Galaxy Digital Holdings in Struggle to Stay Afloat.

The Bitcoin mining crisis continues as miners continue to sell their facilities. Argo Blockchain saw its shares rise in London trading yesterday after agreeing to...

Cryptocurrency Winter to Last “At Least One More Year”, Says Octopus Network Founder.

Octopus Network, a multi-chain cryptocurrency network based on the NEAR protocol, has laid off around 40% of its core team and reduced salaries for the...

MicroStrategy Boosts Bitcoin Holdings with $42.8 Million Purchase.

MicroStrategy, the company co-founded by Michael Saylor, has announced that it has made further purchases of Bitcoin since November 1st. According to today's report, the...

China’s CBDC wallet relies on an age-old custom to increase adoption.

The digital yuan wallet app now includes a traditional Chinese method of donating money that has gone virtual with the rise of digital payments. China's wallet...

Follow us


Most Popular

%d bloggers like this: