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FRANCE DATA
French October flash harmonized inflation came in at 3.2% Friday, accelerating from the 2.7% seen in September and ahead of expectations of a rise to 3.1%.
- According to Insee, energy and services were the main drivers, with HICP up 0.5% m/m.
- CPI, the domestic measure, rose to 2.6% y/y in Oct from 2.2% in Sep.
Euro area inflation, due at 1000BST, will also continue is march higher in October, with market expectations of a rise to 3.7% y/y. However, after the release of preliminary data from Spain and Germany and now France all surprising to the upside, there is a risk the October EZ release could also be an upside beat -- perhaps even closing in on 4%, or double the ECB's price target.
French annual CPI
Source: Insee
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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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