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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.
FRANCE DATA
MNI (London)
FRANCE NOV FINAL HICP +0.4% M/M (FLASH +0.5%); +7.1% Y/Y (=FLASH)
FRANCE DEC MANUFACTURING SENTIMENT 101 (=FCST); NOV 101
- November final CPI data confirmed that French inflation was steady at +7.1% y/y, on par with the October peak. Prices rose by a downwardly revised +0.5% m/m, slowing from the +1.2% m/m jump recorded in October.
- Food and energy prices continued to be the main drivers of inflation. Food CPI quickened by 0.1pp to +12.1% y/y, whilst energy prices inflation eased by 0.7pp to +18.4% y/y.
- Of greater concern was core inflation, which accelerated by 0.3pp to rise +5.3% y/y in November, boosted by accelerating manufactured products prices (+4.4% y/y from +4.2% y/y). Service prices ticked down only marginally by 0.1pp to +3.0% y/y.
- As such, French CPI has remained persistently elevated, giving confidence to the ECB's continued monetary tightening.
- French manufacturing sentiment was unchanged in December at 101, remaining just above the long-term average. Forward-looking indicators weakened though, with foreign order books deteriorating and a fresh uptick in expected selling prices as inflation remains persistently high.
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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