Eurozone FIG Updates

Underlying price pressures in the euro zone edged up in June as inflationary influences rose in Spain and Germany, an index compiled by the Economic Cycle Research Institute showed on Friday.

ECRI, which designs indices aimed at predicting business cycles in leading economies, said its Eurozone Future Inflation Gauge (EZFIG) edged up to 93.4 in June from an upwardly revised 92.5 in May.

"(The index) was pushed up by increases in Spanish and German inflation pressures, partly offset by a slight dip in Italian inflation pressures," ECRI said.

"With the EZFIG remaining relatively subdued, euro zone inflation is likely to stay in a cyclical downswing."