Retail Sales (GBP, GMT 06:00) – UK Retail Sales stronger than expected at 0.7% m/m. The May reading was revised down to 0.1% m/m from 0.3% m/m, but this was still the third monthly improvement and the biggest jump since February. The bounce was partly a reflection of the hot weather, which meant a strong month for department stores and furniture retailers, with summer sales helping to boost turnover. Sales are still considerably lower than a year ago, as the sharp rise in prices has hit real-disposable income.
Consumer Price Index & Core (EUR, GMT 09:00) – The Eurozone inflation rate in July should ease at -0.1% m/m from 0.3% m/m, while the headline inflation is anticipated to ease at 5.3% y/y from 5.5% y/y and core at 5.5% y/y.
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