According to analysts at TD Securities, consensus is looking for Eurozone HICP to hold steady at 1.0% y/y in September, but TD see downside risks with a forecast of 0.9% y/y (its first time below the 1.0% mark in nearly 3 years).

“This is supported by downside surprises for HICP to France, Spain, Italy, and Germany over the last couple of days. We are in line with consensus though in looking for core CPI to edge a tenth higher to 1.0% y/y, although with the widespread weakness across the area, the risks there likely lie to the downside as well.”