In Spain, the Consumer Price Index (CPI) rose by 1% in February compared to the previous month and raised its year-on-year rate by two tenths of a percentage point to 6.1%, due to higher energy and food prices, according to advanced data published on Tuesday by the National Statistics Institute (INE). With the rise recorded in the second month of 2023, inflation has risen for two consecutive months in its…
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…
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…
2023 has started with a new jump in the CPI, to 5.9%, after the decline that started in July last year from a record high of 10.8%. Clothing and transport lead the rise this month. And, although food is down slightly, some groups, such as fish, are starting to pick up again in the monthly statistics. Core inflation continues to soar, rising above the headline CPI for the first time…
Banca March : This morning, the preliminary inflation figure for Spain was published, which came as a surprise in January, rising by one tenth of a point compared with the previous figure to +5.8% year-on-year, well above the +5% forecast. According to the INE, this evolution is mainly due to the fact that fuel prices rose more than in January 2022, and that the fall in clothing and footwear prices…
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…
CoM| Germany’s year-on-year inflation rate stood at 8.6% last December, the lowest since August 2022, after the 10% recorded in November, according to the Federal Statistical Office (Destatis), which estimates a price rise of 7.9% for 2022 as a whole, compared with 3.1% in 2021.In harmonised figures, used by Eurostat in its statistics, Germany’s inflation rate in December was 9.6% year-on-year, which put the average for 2022 as a whole…
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…
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…
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…