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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
European UnionEurozone CPI YoY climbed to 2.9% in July 2026
FMPMonthlyReleased August 2026
Eurozone CPI YoY climbed to 2.9% in July 2026, released August 2026, up 0.1% from June's 2.8% reading. The reading matched expectations. The print is running well above the 12-month average of 2.46%. Over the past 3 months, CPI YoY averaged 2.9%, vs 2.2% in the prior 3-month window.
Latest Release
2.9
Actual
2.9
Consensus
2.8
Previous
Median Absolute Error
±0.04 percentage points
across last 6 releases
Last Call
Aug 2026
Predicted: 2.92
Actual: 2.9
Error: +0.02
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 |
|---|---|---|---|---|---|
| S&P 500 | ▼ Inverse | −0.81 | INDEX | Moves against | → View |
| EUR/USD | ▼ Inverse | −0.80 | FOREX | Moves against | → View |
| FTSE 100 | ▼ Inverse | −0.62 | INDEX | Moves against | → View |
| XAU/USD | ▼ Inverse | −0.59 | COMMODITIES | Moves against | → View |
| Euro STOXX 50 | ▼ Inverse | −0.45 | INDEX | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
CPI YoY (European Union) was reported at 2.9% in August 2026. This matched the market consensus of 2.9% exactly. The reading rose from the previous value of 2.8%. Trailing 12-month context per ETL data through August 2026. Over the past 12 months, the indicator has averaged 2.59%, ranging from 1.8% to 3.2% across 7 releases. This is classified as a high-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 2.8%, up from the prior three at 2.63%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with S&P 500 (Bearish S&P 500). A secondary relationship exists with EUR/USD, negatively correlated (Bearish EUR). Over the last 6 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 ECB Monetary Policy Meeting Accounts (Aug 27) and Economic Sentiment (Aug 28).
Auto-generated from current model state · Refreshes on each release · Last update August 2026.
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CPI YoY - EU
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About CPI YoY — European Union
DEFINITION
EU's CPI YoY for July came in at 2.900000%, matching estimates and up from June's 2.800000%, indicating steady inflationary pressure. The increase from June to July confirms ongoing price growth in the Eurozone. Market participants will watch upcoming ECB communications closely for signals on monetary policy adjustments. Updated 8/19/26
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 (Jul 2026): actual 2.9 %, consensus 2.9 %. Prior reading (Jul 2026): 2.9 %. Before that (May 2026): 2.6 %.
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 S&P 500 (Bearish S&P 500, r=-0.81) — a useful reference for index-focused traders.
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Economic Calendar - EU Events
| Thursday, August 27, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 08:00 | EU | Loans to Companies YoY | 4 | 3.8 | 3.80 | Low | |
| 08:00 | EU | Loans to Households YoY | 3 | 2.9 | 2.90 | Low | |
| 08:00 | EU | M3 Money Supply YoY | 3.3 | 3.4 | 3.40 | Low | |
| 08:00 | EU | Private sector loans YoY | 3 | 2.9 | 2.90 | Low | |