Towards a further acceleration of German inflation

If confidence is absent subscribers, as demonstrated by the indicators published on Tuesday, that of the business climate June in the euro zone should also confirm this. It is expected at 103 points, against 105 in May. On the other hand, theinflation, she is more present than ever. From 8.7% over one year in May, it could accelerate further in Germany to reach 8.8% in June, despite a reduction in gasoline taxes. The preliminary figure will be unveiled at 11 a.m. The decline does not seem to be for now. ” We expect German inflation to average above 8% this year, with a possibility of monthly inflation rates hitting double digits in the summer. wrote Carsten Brzeski, head of macro analysis at ING, in a note to clients in March.

The money supply in question

Among the other European indicators to follow, operators will be interested in the evolution of the money supply in may. ” Bank lending data are generally lagging indicators of the cycle. It would be logical, given the sharp rise in long-term rates, for a slowdown to begin shortly, particularly on mortgage credit “, estimated the Oddo BHF office at the start of the week. This mass is expected to rise by 5.8% over one year, against 6% in April.

On the other side of the Atlantic, investors will learn about Department of Energy Weekly Petroleum Inventories as well as the third estimate of GDP in the first quarter. It should confirm that the economy has contracted by 1.5% at an annualized rate.

On the values ​​front, Voltz Seeds will release its first-half results, Haffner Energy those for fiscal year 2021-2022 and trigano will provide an update on its third quarter sales.