inflation

450px Frankfurt European Central Bank with Euro 2

Relevant News Item 28th February 2023

ECB in difficult position: facing both uncomfortably high price levels and deterioration in the cycle.

Renta 4 : A flat European opening, in a session in which around 25 of our companies in coverage will publish 4Q22 results and where the macroeconomic focus will be on the first inflation data for February in Europe. On the Japanese side, consumption in January was good (retail sales +1.9% vs +0.4%e and +1.1% previously) but manufacturing was weak (industrial production -4.6% vs -2.9%e and +0.3% previously). Today we…

European economy 25th February 2023

Consumers’ one-year inflation expectations to rebound (+4.2% vs. +3.9%) for first time in 10 months

Renta 4 : European opening with slight gains (Eurostoxx futures +0.4%, S&P futures -0.1%), on a day of numerous 4Q22 results in Spain. In the background, and on the day that marks one year of war in Ukraine, a peace proposal presented by China that does not seem to have the support of the US and the EU. Today’s macro focus will be on the US core private consumption deflator…

Relevant News Item, World economy 15th February 2023

One step forward, two steps backward for inflation: data starts to look more erratic after first big downward adjustments in late 2022

Santander Corporate & Investment | There are no divisions here, inflation data are undoubtedly starting to look more erratic after the first big downward adjustments at the end of 2022, falls that raised hopes of a pivotal moment for central banks and explained a large part of the unprecedented January rally in the markets. Base effects will be the main ally for much of 2023, but our economists believe that…

Spanish economy, Spanish Politics 18th January 2023

Price controls and old, failed ideas

Fernando González Urbaneja | Keynes in the closing pages of his “General Theory…” alludes to the failed ideas of old economists nesting in the minds of new rulers as one of the avoidable mistakes. Old ideas, simple answers to somewhat more complex problems are frequent in politics, due to inconsistency, prejudice, ignorance, lack of experience. The most blatant example is the price of the shopping basket, which has undergone appreciable…

Spanish economy 30th November 2022

Inflation falls to 6.8% in November due to the lower cost of electricity and petrol. Core inflation rises to 6.3%

The Consumer Price Index (CPI) fell by one tenth of a percentage point in November compared to the previous month and cut its year-on-year rate by half a point to 6.8%. This is its lowest figure since January, just before war broke out in Ukraine, when the CPI stood at 6.1%, according to advanced data published on Tuesday by the National Statistics Institute (INE). In the midst of European economic…

Spanish economy 15th November 2022

CPI falls to 7.3% in October, with food up 15%.

The Consumer Price Index (CPI) increased by three tenths of a percentage point in October compared to the previous month and suddenly cut its year-on-year rate by 1.6 points to 7.3%. This is the lowest figure since January, just before war broke out in Ukraine, when the CPI stood at 6.1%, according to the final data published today by the National Statistics Institute (INE). The body has thus maintained the…

European economy 31st October 2022

There is No Sign of Respite in Inflation Data In Europe

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…

European economy 31st October 2022

Fewer German Companies Plan to Increase Prices

ifo| Somewhat fewer German companies are planning to raise their prices soon than in the previous month, finds the ifo Institute’s latest survey. For the economy as a whole, the ifo price expectations for the coming months fell to 51.5 points in October, down from 53.8 points* in September. Trade and manufacturing in particular are planning fewer increases, while price expectations are rising among service providers and in construction. “The…

Spanish economy 16th September 2022

Moody’s Rates Spanish Companies As The Most Profitable In Europe Due To Their Ability To Raise Prices

The credit rating agency Moody’s has indicated that Spanish companies are the most profitable among the main European countries (United Kingdom, France, Italy and Germany) due to their greater ability to raise prices, according to a report published on Thursday. “Although the sample is small, on average these [Spanish] companies have higher profitability at all percentiles, which suggets a greater ability to pass on costs to consumers and offset inflationary…

DIA supermarkets, in the middle of the process of repositioning of their business model

Spanish economy 12th September 2022

The CNMC Considers The Plan Of Yolanda Díaz, Who Will Today Ask Supermarkets To Limit Prices, To Be Illegal

The Second Vice-President of the Government, Yolanda Díaz, plans to meet this Monday with the distribution sector to ask them to limit the prices of certain products in the shopping basket. Díaz will thus put pressure on the sector to “contribute through its business margins to an affordable and quality basket”. But on Friday, the National Commission for Markets and Competition (CNMC) advised against this measure, which is “expressly prohibited”…

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