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 industrial producer prices rose by 1.1% between July and August, taking the annual pace to a record-high of 13.5% from an upwardly-revised 12.4% rise in July, according to data released by Eurostat on Tuesday. The June-to-July increase was also upgrade to 2.5% from 2.3%. Energy prices jumped by 2.0% in August, an annual surge of 32%, but the data reflected large jumps across industry groupings. Excluding energy, producer prices rose by an annual rate of 7.4% (+0.7% m/m), while prices for intermediate goods leapt by 14.2% (+1.4% m/m).
Various European Central Bank officials, including President Christine Lagarde, has deemed the recent rise in consumer price inflation to be transitory, noting that internal forecasts predict a fall in HICP to below the Bank's 2.0% target next year. However, ongoing shortages of natural gas and the recent surge in crude oil prices to an eight-year high suggest that producer price inflation is unlikely to abate over the months to come, with ECB VP Luis de Guindos saying Monday the central bank would be vigilant to second round effects.
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.