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REAL-TIME GLOBAL RESEARCH

Energy Footprint on CPI: An Accounting Perspective

Published: 2026-07-10Institution: Morgan StanleyPages: 8Original language: EnglishEvidence page: 1

Research evidence excerpt

Energy Footprint on CPI: An Accounting Perspective

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July 10, 2026 02:41 PM GMT

Morgan Stanley Europe S.E.MEuropean Economics Weekly | Europe Jens Eisenschmidt

Chief Europe Economist

Energy Footprint on CPI: An Jens.Eisenschmidt@morganstanley.comJean-Francois Ouvrard +49 69-21662817

Deputy Chief European Economist

Jean-Francois.Ouvrard@morganstanley.com +49 69-21662813

Accounting Perspective Morgan Stanley & Co. International plc

Bruna Skarica

This week, Jean-Francois Ouvrard and Jens Eisenschmidt discuss Chief UK Economist

Bruna.Skarica@morganstanley.com +44 20 7425-9110

potential indirect impacts on inflation from higher energy prices Chiara Zangarelli

that could be in the pipeline. With few data releases in Europe Economist

Chiara.Zangarelli@morganstanley.com +44 20 7677-3644

next week (UK GDP, euro area industrial production), the focus is

Morgan Stanley Europe S.E.

on the US with the release of June CPI. Gabriela Silova

Economist

The 2026 Extel Global Fixed Income Survey opens on Monday 6th July (here). If you Gabriela.Silova@morganstanley.com +49 69-21662832

have enjoyed reading our weekly essays each Friday and our research in general, Morgan Stanley & Co. International plc

please rate us five stars in the European Economics category. Thanks for your Skander Garchi Casal

readership and support! Economist

Skander.Garchi.Casal@morganstanley.com +44 20 7425-0034

This week in Europe: Inflation in the pipeline Morgan Stanley Europe S.E.

Claire A Thuerwaechter

After geopolitical tensions eased in second half of June, we thought it would be a Economist

good time to turn our attention somewhere else: a deep dive into Europe Fiscal Claire.Thuerwaechter@morganstanley.com +49 69-21662842

Policy and the big challenges ahead (here).

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