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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.
EUROZONE DATA
MNI (London)
EUROZONE NOV PPI -0.9% M/M (FCST -0.8%); OCT -3.0%r M/M
EUROZONE NOV PPI +27.1% Y/Y (FCST +27.5%); OCT +30.5%r Y/Y
- Eurozone factory-gate inflation eased slightly more than anticipated in November. PPI fell by -0.9% m/m and softened by 3.4pp to +27.1% y/y.
- The fall in month-on-month prices was largely due to the -2.2% m/m decline in energy, followed by intermediate goods (-0.4% m/m). This is in line with signals of easing inflation in PMI data.
- With headline annualised PPI firmly below the August peak of +43.4% y/y, focus for the ECB has shifted towards core inflation data. The PPI uptick in durable consumer goods (+-0.2%), capital goods (+0.3%) and nondurable consumer goods (+0.6%) imply continued pressure on prices over the month, albeit being a softer-than-Oct uptick at +0.1% m/m ex. energy.
- PPI ex. energy declined by 0.9pp to +13.1% compared to Nov 2021, having peaked in May at +16.0% y/y. As such, eurozone inflationary pressures appear set to ease further in the upcoming months.
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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