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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
MNI (London)
EUROZONE FLASH OCT CPI +1.5% M/M (FCST +1.2%); SEP +1.2% M/M
EUROZONE FLASH OCT CPI +10.7% Y/Y (FCST +10.3%); SEP +9.9% Y/Y
EUROZONE FLASH OCT CORE CPI +0.6% M/M, +5.0% Y/Y (= FCST); SEP +4.8% Y/Y
- Following substantial upside surprises across France, Italy and Germany's CPI prints on Friday, eurozone aggregate inflation jumped by 0.8pp to +10.7% y/y and accelerated by +1.5% m/m alone. This is a fresh euro-era high and over 1pp higher than initial estimates prior to Friday's national data.
- Energy prices accelerated by +41.9% y/y (vs 40.7% in Sep). Food jumped by 1.3pp to a fresh high of +13.1% y/y. Core inflation quickened by 0.2pp to +5.0% y/y on the back of a 0.5pp increase in industrial goods to +6.0% y/y and a 0.1pp increase in service prices to +4.4% y/y.
- There was a marked divergence across eurozone economies in October. Eastern European states with inflation rates over 20% saw prices decelerate, along with significant improvements in Spain and Greece. Western Europe largely saw inflation heat up further.
- This data alongside the slightly stronger-than-expected +0.2% q/q Q3 GDP flash print put the decision to slow the pace in December all but off the table.
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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