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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
The ECB's underlying inflation metrics have been updated for the final Eurozone November HICP, and provide more evidence of strong disinflation.
- The overall PCCI (Persistent and Common Component of Inflation) index was 2.05% Y/Y (vs 2.37% in October, downwardly revised from 2.46% prior).
- The updated PCCI ex-energy and food readings were below 2% in October and November. The latest reading was 1.80% Y/Y, with October's revised down to 1.98% Y/Y (vs an unrevised 2.01% prior).
- The other underlying measures calculated by the ECB (Supercore, weighted median and 10/30% trimmed mean) also decelerated by -0.5 to -0.6pp in November.
- The 10% trimmed mean and weighted median measures fell below 4% for the first time since December 2021 and March 2022 respectively.
- A reminder that December HICP is expected to bounce back in December, in large part due to higher German energy prices (after subsidies depressed prices back in December 2022). However, focus will as always be on the progress of disinflation in core metrics.
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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