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🇪🇺 France contracted in Q1, German energy import costs jumped 31.0%, and money markets still have the ECB hiking on June 11
The day in view

🇪🇺 France contracted in Q1, German energy import costs jumped 31.0%, and money markets still have the ECB hiking on June 11

Macro Soup Newsroom Macro Soup Newsroom 3 min read

France's economy shrank −0.1% in Q1 and German energy import prices jumped +31.0% year on year in April. The ECB's June 11 rate decision is far more contested than money market pricing suggests.

Line chart of France (orange) and Spain (black) inflation rates from 2021 to 2026.
French and Spanish inflation jumped in May, boosting the case for an ECB rate hike. Source

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