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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 OCT FLASH HICP +1.3% M/M (FCST +0.6%); SEP -0.5% M/M
FRANCE OCT FLASH HICP +7.1% Y/Y (FCST +6.5%); SEP +6.2% Y/Y
- French inflation surged by 0.9pp to +7.1% y/y in the October flash estimate, up +1.3% m/m alone. This is substantially higher than forecasts of +0.6% m/m and +6.5% y/y.
- Strong accelerations were seen across Energy (+19.2% y/y after +17.9%) and food (+11.8% y/y after +9.9%), whilst services continued to expand at the September rate (+3.2% y/y).
- With no slowing across the sub-indexes, core inflation is also anticipated to have increased again following brief September relief. The core index is due with the final release.
- Global energy and food prices have been extremely high following the onset of the Ukraine war, spilling over into more broad-based price pressures.
- This hot CPI beat adds substantial upside pressure to the aggregate eurozone print. Consensus at present expects a 0.6pp slowing to +9.4% y/y.
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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