According to the Statistical office of the European Union (Eurostat), annual inflation rate in June for the euro area and the European Union increased by 0.3% (May 2020: 0.1%) and 0.8% (May 2020: 0.6%), respectively. Notably, Eurostat highlighted that in the month of June, “COVID-19 containment measures have been gradually lifted.” However, a year earlier the inflation rate was 1.3% and 1.6% for euro area and European Union, respectively.
The lowest annual rates were observed in Cyprus (-2.2%), Greece (-1.9%) and Estonia (-1.6%). The highest annual rates occurred in Poland (3.8%), Czechia (3.4%) and Hungary (2.9%). In comparison to May, annual inflation declined in seven Member States but increased in twenty.
Furthermore, Eurostat noted that, “food, alcohol & tobacco (+0.60 percentage points, pp), followed by services (+0.55 pp), non-energy industrial goods (+0.05 pp) and energy (-0.93 pp)” contributed the most to the upward movement of the euro area inflation rate for the June 2020.
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.