There is No Sign of Respite in Inflation Data In Europe

inflation board

German inflation in October was 11.6%, well above expectations, Italian inflation was 12.8% and French inflation was 7.1%, all higher than expected and higher than last month. The components will be released mid-month, but some regional figures in Germany show that the big contributors to price increases continue to be energy costs and food.

In Spain, inflation slowed yr-on-yr in October to 7.3% on lower electricity, gas prices.

Also, in Europe we got preliminary third quarter GDP data for Germany and France. Germany continued to grow in the third quarter – by 0.3% quarter-on-quarter and 1.1% year-on-year – beating consensus. On the other hand, growth in France slowed compared to last quarter, the economy grew by 0.2% quarter-on-quarter (as in Spain) compared to 0.5% last quarter, which in year-on-year terms marks a growth of 1%.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.