It seems that disinflationary pressures have run their course and finally the prices are set to pick up in the next period. TOday the underlying inflation came in line with expectations posting a rise of 0,2% in June. The core CPI has been subdued due to a strong dollar, but any factor is transitory and therefore the current level of dollar won't pose any more further downside pressure on consumers attitude to delay their purchases in order to benefit later from a lower price.
As long as the labour market is on a positive trend there are no compelling reasons not to think of higher prices
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