Euro area inflation nudges up in July, keeps the pressure on the ECB

July preliminary CPI +2.9% vs +2.9% y/y expected Prior +2.8% July preliminary core CPI +2.5% vs +2.4% y/y expected Prior +2.4% Headline annual inflation in the euro area is seen climbing slightly in July to 2.9%, moving above the 2.8% estimate in June. However, the more…