inflation

In Spain, Spanish economy 15th April 2023

Spain’s 7.5% core inflation shows cost increases still being passed on to rest of economy

Bankinter : The March final CPI figure confirms the preliminary 3.3%, up from 6.0% year-on-year in February. The month-on-month figure also confirms the preliminary 0.4% (from +0.9% m/m previously). The underlying rate confirms the preliminary year-on-year figure of 7.5% (vs +7.6% year-on-year previously). Annual CPI rate: general and core, percentage Analysis: The moderation of the general data in March is based on the decline in electricity and fuel prices. Despite…

In the World, World economy, World politics 13th April 2023

Mild recession in the United States this year

Santander | It is one of the first headlines from last night’s FOMC minutes. Fed staff members go from assigning a near 50% probability, to now forecasting a mild recession. With the Fed also nearing the end of the cycle, it is no surprise that some dissenting voices are beginning to appear, opening the door to new bouts of volatility that have not favoured the credit market (MOVE/Main correlation of…

Markets, World economy 12th April 2023

Market discounts further moderation in US headline CPI but indicates rebound in underlying

Renta 4 : European stock markets open almost flat (Eurostoxx futures -0.2%, S&P futures 0%), on a day in which the main reference will be the US March inflation data (2:30pm). The market expects further moderation in headline CPI (5.1%e vs 6% year-on-year), but a rebound in core CPI (5.6%e vs 5.5% previously) after five consecutive months of decline from a peak of 6.6%. We will see its impact on…

European economy, In Europe 5th April 2023

Eurozone inflation expectations for next 12 months fall to 4.6% in February

Link Securities | Bloomberg reported on Thursday that, according to the ECB’s monthly survey, inflation expectations for the next 12 months fell to 4.6% in February from 4.9% in January. In addition, inflation expectations for the next three years fell to 2.4% from 2.5% the previous month. In addition, according to the survey, economic growth expectations for the next 12 months continued to rise, from -1.2% to -0.9%. Meanwhile, 12-month…

European economy, In Europe 31st March 2023

Eurozone annual inflation drops to 6.9% in March

CoM | Annual inflation in the eurozone will be 6.9% in March 2023, down from 8.5% in February, according to a preliminary estimate by Eurostat, the statistical office of the European Union. Regarding the main components of eurozone inflation, food, alcohol and tobacco, they are expected to record the highest annual rate in March (15.4%, up from 15.0% in February), followed by non-energy industrial goods (6.6%, up from 6.8% in…

Spanish economy 30th March 2023

March inflation in Spain down to 3.3% but underlying hits all-time high of 7.5%

The Consumer Price Index (CPI) rose by 0.4% in March compared to the previous month and cut its year-on-year rate by more than 2.5 points to 3.3%, its lowest value since August 2021, according to advanced data published on Thursday by the National Statistics Institute (INE).This moderation in the year-on-year growth rate of the CPI places inflation at its lowest level since August 2021, when a rate of 3.3% was…

In the World, World economy 23rd March 2023

Reaching 2% inflation to be a long schlep for the Fed: aiming for 3.6% this year, 2.6% in 2024 and 2.1% in 2025

Intermoney | The same could be said of the update of the macro picture forecasts. Economic projections are not necessarily a roadmap for policy and are subject to change. In fact, they have been changing from quarter to quarter. The projections point to inflation at 3.6% this year, one tenth of a percentage point higher than forecast in December. In 2024 it will moderate (2.6%), but it will not be…

Spanish economy 23rd March 2023

Bank of Spain warns food prices to rise 12.2% on average this year

Bad news for Spanish families. Despite the fact that general inflation is set to moderate in the coming months, food prices will continue to give households’ pockets no respite. This is what the Bank of Spain warned on Wednesday during the presentation of its quarterly report on macroeconomic projections. The report is confident that, despite the upturn in inflation in January and February, the general CPI will resume the deceleration…

European economy, Relevant News Item 20th March 2023

Eurozone inflation in February confirmed at 8.5%, but underlying climbs to record 5.6%, ECB says it will remain above 2% until 2025

The eurozone’s year-on-year inflation rate stood at 8.5% in February, down one tenth of a percentage point from January, according to Eurostat, the EU’s statistical office, while the underlying rate, which excludes the effect of energy and food, climbed to a record 5.6%. In this way, the year-on-year inflation rate in the euro area accumulates four consecutive months of deceleration and stood at its lowest level since May 2022, before…

In the World, World economy 15th March 2023

Litmus test for American and European inflation will be between April and July, when March-June data is published

Bankinter | The US inflation published today is for February, so we should not expect it to ease because it still compares with months in 2022 before the invasion of Ukraine and, therefore, before the sharp price rises. That means that the real litmus test for inflation (both American and European) will take place between April and July, when the March-June records are published. It was in those months that…

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