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Core inflation, excluding fluctuations in food and energy costs, dropped to 2.8% as predicted by economists, following three consecutive months at 2.9%.
Simultaneously, the rise in service expenses sped up to 4.2%, partly due to significant wage hikes, as stated by Bloomberg.
Bloomberg points out that the decrease in consumer prices supports the argument for the European Central Bank to implement another interest rate reduction during its September meeting. Investors anticipate two to three additional ECB rate reductions before the year ends, along with extra actions in 2025, according to the agency.
Joachim Nagel, head of the German regulator, earlier warned against rapidly reducing interest rates, reported Bloomberg.
source: bloomberg.com
Simultaneously, the rise in service expenses sped up to 4.2%, partly due to significant wage hikes, as stated by Bloomberg.
Bloomberg points out that the decrease in consumer prices supports the argument for the European Central Bank to implement another interest rate reduction during its September meeting. Investors anticipate two to three additional ECB rate reductions before the year ends, along with extra actions in 2025, according to the agency.
Joachim Nagel, head of the German regulator, earlier warned against rapidly reducing interest rates, reported Bloomberg.
source: bloomberg.com
