CNBC Daily Open: Record heatwaves hit Europe's already expensive summer

Upcoming German inflation and U.K. GDP data are expected to quantify the pass-through from months of elevated energy costs into consumer prices and show how much growth has been hit. The setup suggests lingering inflation pressure alongside weaker economic momentum, keeping near-term policy and rate outlooks sensitive to the prints.

Analysis

Upcoming German inflation and U.K. GDP data are expected to quantify the pass-through from months of elevated energy costs into consumer prices and show how much growth has been hit. The setup suggests lingering inflation pressure alongside weaker economic momentum, keeping near-term policy and rate outlooks sensitive to the prints.