Eurozone July final CPI +5.3% vs +5.3% y/y prelim

• Prior +5.5%
• Core CPI +5.5% vs +5.5% y/y prelim
• Prior +5.5%

No changes to the initial estimates and core inflation sticking at 5.5% will make it tricky for the ECB to spin the narrative for a pause in September. But policymakers will interpret it however they wish to and that's the name of the game at the moment.