Key Takeaways
- Spain's annual CPI remained stable at 2.7% in July, aligning with expectations, though the monthly core inflation unexpectedly turned negative at -0.2%.
- Ukrainian President Volodymyr Zelenskiy is confirmed to visit Berlin on Wednesday, according to a German government source.
- Norwegian consumer confidence significantly improved in Q3, rising to -3.6 from the previous quarter's -16.4, signaling a potential shift in consumer sentiment.
Spain's inflation data for July showed a stable annual Consumer Price Index (CPI) at 2.7%, consistent with both estimates and the previous month's reading. This stability in the headline figure provides some reassurance regarding price pressures in the Eurozone's fourth-largest economy. However, a notable shift occurred in the core CPI month-over-month, which registered -0.2% after a 0.5% increase in the prior period. The harmonized CPI for the EU also remained steady at 2.7% year-over-year. This mixed data could influence future European Central Bank (ECB) policy decisions, particularly concerning the trajectory of interest rates.
In geopolitical news, Ukrainian President Volodymyr Zelenskiy is set to arrive in Berlin in person on Wednesday. This visit has been confirmed by a German government source. The news follows an earlier report by the Bild newspaper, which first indicated the Ukrainian leader's impending trip to the German capital. Zelenskiy's presence in Berlin underscores ongoing diplomatic efforts and discussions concerning the conflict in Ukraine, likely focusing on further aid, reconstruction, or potential peace initiatives.
Meanwhile, economic sentiment in Norway has shown a marked improvement in the third quarter. The country's consumer confidence index rose significantly to -3.6 for Q3, a substantial rebound from -16.4 in the previous quarter and a revised -9.1. This considerable jump, despite the figure remaining negative, suggests a growing optimism among Norwegian consumers about the economic outlook. The improved confidence could translate into increased consumer spending and contribute to economic growth in the coming months.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.