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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EUROZONE DATA
Based on the full set of data released by Eurostat this morning, MNI's Inflation breadth metrics (measured as the % of 4-digit COICOP sub-components that have Y/Y inflation rates above 2%) indicate that the proportion of high-inflation categories is diminishing at an increased pace.
- In November, 72% of components had rates above 2% Y/Y (vs 78% in October and a peak of 90% in January 2023).
- The proportion of components with rates equal to or below 2% Y/Y rose to 28% (vs 22% in October), while 13% of components had negative Y/Y rates (vs 10% prior).
- Package holidays were expected to be a key driver of the November disinflation (most notably in Germany). Indeed, Eurozone-wide package holidays fell -8.5% M/M (though still were +16.7% Y/Y, contributing 0.08pp to the overall annual rate).
- Transport services were also a key driver of services disinflation, falling -5.1% M/M and -3.9% Y/Y (pulling down the headline rate by -0.11pp).
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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