inflation

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…

Spanish economy 14th March 2023

CPI rises to 6%, with core inflation at 7.6% and food at 16%

The Consumer Price Index (CPI) rose by 0.9% in February compared to the previous month and raised its year-on-year rate by one tenth of a percentage point, to 6%, due to the increase in electricity, package holidays and food, which saw their prices rise by 16.6% compared to February 2022 despite the measures taken by the government, according to the final data published on Tuesday by the National Statistics Institute…

World economy 12th March 2023

US and EU initiate steps to resolve Inflation Reduction Act dispute

Banca March | As part of today’s meeting between Von der Leyen and Biden at the White House, the two leaders are to discuss a plan to reduce dependence on China, including an agreement on the extraction of critical minerals such as lithium and nickel. While the arrangement would not be a free trade agreement, it would allow the EU to meet the standards required to qualify for Inflation Reduction…

European economy, In Europe 5th March 2023

German inflation exceeds expectations in February at 8.7%

BancaMarch : German inflation beat expectations in February. The preliminary index showed that consumer price growth came in at +8.7% year-on-year, two tenths above expectations and confirmed that the moderation of inflation has slowed in February. A figure that continues to put pressure on the ECB to continue raising official interest rates.

European economy 4th March 2023

Eurozone inflation falls to 8.5% in February but underlying hits record high of 5.6%

CoM | Eurozone annual inflation falls to 8.5% in February 2023, down from 8.6% in January, according to a preliminary estimate by Eurostat, the statistical office of the European Union. However, core inflation did not find a ceiling and rose again for another month, reaching a record high of 5.6%. With regard to the main components of inflation in the euro zone, food, alcohol and tobacco recorded the highest annual…

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…

Spanish economy 28th February 2023

Spain: inflation up to 6.1% in February, core inflation at 40-year high of 7.7%

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…

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