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MNI BRIEF: Inflation Uncertainty Greater in US than EU - ECB

(MNI) Frankfurt

Most of the difference between overall inflation rates in the US and EU in 2021 can be attributed to the far stronger increase in inflation excluding energy and food, a study published the latest ECB Economic Bulletin today concludes, with rents also playing a greater role in driving US inflation excluding energy and food.

Greater upward pressure on US wages is consistent with a tighter labour market, with the ahead in the business cycle. Upside surprises to inflation data have been greater in the US than in Europe, leading to greater uncertainty around the outlook for inflation in the United States than in the euro area.

MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
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MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
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