July Flash EZ inflation 1.6% vs 1.6% exp y/y

• Prior 1.6%
• Core CPI 1.1% vs 1.2% exp. Prior 1.1%

EZ inflation holding steady which will be of comfort to Draghi & Co. The ECB policy is to have inflation below, but close to 2%. They’ll settle for a steady 1.6% all day long.