Loading page content
Data from FMP. Forecasts by Sigmanomics Forecast Engine.
European UnionEurozone CPI MoM climbed to 0.2% in July 2026
FMPMonthlyReleased August 2026
Eurozone CPI MoM climbed to 0.2% in July 2026, released August 2026, up 0.3% from June's -0.1% reading. The print came in cooler than the 2.8% consensus, a softer print than forecasters anticipated. The print is running well below the 12-month average of 1.04%. Over the past 3 months, CPI MoM averaged 1.07%, vs 1.02% in the prior 3-month window.
Latest Release
0.2
Actual
2.8
Consensus
-0.1
Previous
Median Absolute Error
±0 percentage points
across last 3 releases
Last Call
Aug 2026
Predicted: 2.8
Actual: 0.2
Error: +2.6
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 |
|---|---|---|---|---|---|
| XAU/USD | ▼ Inverse | −0.65 | COMMODITIES | Moves against | → View |
| EUR/USD | ▼ Inverse | −0.49 | FOREX | Moves against | → View |
| EUR/CHF | ▲ Direct | +0.47 | FOREX | Moves with | → View |
| EUR/GBP | ▼ Inverse | −0.39 | FOREX | Moves against | → View |
| Euro STOXX 50 | ▼ Inverse | −0.31 | INDEX | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
CPI MoM (European Union) was reported at 2.9% in September 2026. The reading rose from the previous value of 0.2%. Trailing 12-month context per ETL data through September 2026. Over the past 12 months, the indicator has averaged 1.14%, ranging from 0.1% to 2.9% across 8 releases. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 1.97%, up from the prior three at 0.47%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with XAU/USD (Bearish XAU). A secondary relationship exists with EUR/USD, negatively correlated (Bearish EUR).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include S&P Global Services PMI (Oct 23) and S&P Global Composite PMI (Oct 23).
Auto-generated from current model state · Refreshes on each release · Last update September 2026.
SHARE
CPI MoM - EU
Loading chart data...
About CPI MoM — European Union
DEFINITION
The EU's CPI MoM surged to 2.900000% in August, sharply higher than July's 0.200000%, signaling a significant acceleration in inflation. This jump marks a clear expansion in price pressures compared to the prior month. Market participants will closely watch upcoming ECB communications for policy adjustments. Updated 9/1/26
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. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Aug 2026): actual 2.9 %. Prior reading (Jul 2026): 0.2 %. Before that (Jul 2026): 2.8 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher 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 XAU/USD (Bearish XAU, r=-0.65) — a useful reference for commodities-focused traders.
Σ
EXPECTED ZONE
SIGMANOMICS MARKET FORECAST ENGINE
Multi-horizon symbol forecasts, Rolling-Surprise economic predictions, and programmatic API access.
Expected Zones · Trade Bias · Confidence Intervals · API Access · 1,456+ instruments
FOREXCRYPTOSTOCKSCOMMODITIESINDICESAPI
BLSBEAFMPWORLD BANKFRED
1,456+ instruments247 indicators530+ correlationsREST + GQL API
4,151 economic indicators127 countries covered6 data sources
FREDBLSEIAECBBOJFMP
Economic Calendar - EU Events
| Thursday, October 22, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 04:00 | EU | New Car Sales YoY | 9.3 | 4.5 | 10.1 | 10.82 | Medium |
| 14:00 | EU | Consumer Confidence | -17.9 | -16.8 | -17 | -17.00 | Medium |
| Friday, October 23, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 08:00 | EU | S&P Global Services PMI | 53 | 52.5 | 53.40 | Medium | |
| 08:00 | EU | S&P Global Composite PMI | 53.1 | 52.7 | 53.50 | Medium | |
| 08:00 | EU | S&P Global Manufacturing PMI | 52.9 | 52.7 | 52.95 | Medium | |