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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
European UnionEurozone CPI climbed to 103.22% in July 2026
FMPMonthlyReleased July 2026
Eurozone CPI climbed to 103.22% in July 2026, up 0.2% from June's 103.02% reading. The reading matched expectations. Year-over-year, the indicator is down 25.88%. Over the past 3 months, CPI averaged 103.09%, vs 101.22% in the prior 3-month window. The reading is in the 31st percentile of the trailing 24-month range.
Latest Release
103.22
Actual
103.2
Consensus
103.02
Previous
Median Absolute Error
±0.04 percentage points
across last 12 releases
Last Call
Jul 2026
Predicted: 103.18
Actual: 103.22
Error: -0.04
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| BTC/USD | ▲ Direct | +0.43 | CRYPTO | Moves with | → View |
| S&P 500 | ▲ Direct | +0.40 | INDEX | Moves with | → View |
| XAU/USD | ▼ Inverse | −0.27 | COMMODITIES | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
CPI (European Union) was reported at 103.22% in July 2026. This beat the market consensus of 103.2% by 0.02%. The reading rose from the previous value of 103.02%. Trailing 12-month context per ETL data through July 2026. Over the past 12 months, the indicator has averaged 116.32%, ranging from 100.05% to 129.7% across 21 releases.
WHY IT MATTERS
The trailing three releases averaged 103.12%, up from the prior three at 102.72%. Volatility over the past year (σ 13.78%) is higher than the prior year (σ 0.91%). In July readings over the past 3 years, CPI has averaged 119.17%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with BTC/USD (Bullish BTC). A secondary relationship exists with S&P 500, positively correlated (Bullish S&P 500). Over the last 12 releases, the Sigmacast model's median absolute error is 0.04%.
WHAT TO WATCH NEXT
The next release is scheduled for September 1, 2026. Same-country events in the next 14 days include CPI MoM (Aug 19) and ECB Monetary Policy Meeting Accounts (Aug 20).
Auto-generated from current model state · Refreshes on each release · Last update July 2026.
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CPI - EU
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About CPI — European Union
DEFINITION
CPI, or Consumer Price Index, is a widely used economic indicator that measures the average change in prices of goods and services purchased by households. It is an important tool for assessing inflation and the overall cost of living for consumers. The CPI is calculated by tracking the prices of a basket of goods and services over time, providing valuable insights into the current state of the economy and its impact on consumers. This indicator is closely monitored by policymakers, businesses, and investors to make informed decisions about economic trends and financial strategies.
WHY THIS INDICATOR MATTERS
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jul 2026): actual 103.2 %, consensus 103.2 %. Prior reading (Jun 2026): 103 %. Before that (May 2026): 103.1 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with BTC/USD (Bullish BTC, r=0.43) — a useful reference for crypto-focused traders.
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Economic Calendar - EU Events
| Tuesday, August 18, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 09:00 | EU | ZEW Economic Sentiment Index | 31.4 | 23.4 | 25.4 | 28.40 | Medium |
| Thursday, August 20, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 09:00 | EU | Construction Output YoY | 1.2 | 0.6 | 1.30 | Low | |
| 09:00 | EU | Labour Cost Index YoY | 3.2 | 3 | 3.15 | Low | |
| Friday, August 21, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 08:00 | EU | S&P Global Manufacturing PMI | 51.9 | 51.8 | 51.60 | Medium | |
| 08:00 | EU | S&P Global Composite PMI | 52 | 51.7 | 51.05 | Medium | |
| 08:00 | EU | S&P Global Services PMI | 51.7 | 51.5 | 50.85 | Medium | |