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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 DEC HICP -0.1% M/M (FCST +0.4%); NOV +0.4% M/M
FRANCE DEC HICP +6.7% Y/Y (FCST +7.3%); NOV +7.1% Y/Y
FRANCE DEC CONSUMER CONFIDENCE 82 (FCST 84); NOV 83
- French flash inflation data saw a significant December downside surprise, extending the trend of softer-than-expected data after Spanish and German CPI prints.
- French HICP fell by -0.1% m/m, slowing from the consensus estimate of holding the November pace of +0.4% m/m. Headline HICP cooled by 0.4pp to +6.7% y/y, against expectations of a further 0.2pp acceleration to a fresh euro-era high of +7.3% y/y.
- Energy prices and, to a lesser extent, service prices accounted for the bulk of the decline in headline CPI. Food price inflation is seen as holding pace, whilst manufactured good prices accelerated on the year and decelerate on the month.
- Whether the fall in headline HICP translates into any easing in core inflation will become apparent in the final release. French core inflation ticked up to a euro high of +4.2% y/y in November.
- Consumer confidence saw a surprise one-point decline to 82 in December, remaining only slightly above the September dip to 80. Despite easing headline CPI, the increase in 12-month inflation expectations in the December survey implies that French consumers remain wary.
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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