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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.
GERMAN DATA
The Bundesbank's estimate of seasonally-adjusted CPI released this afternoon shows solid sequential progress on core metrics in November.
- Overall core inflation came to a standstill at 0.0% M/M (CPI ex-energy/food), the lowest reading since June 2022 and a decline versus 0.18% in October, with the services index trending slightly negative at -0.09% M/M, the first drop since May and vs +0.09% in Oct.
- Manufactured goods ex-energy/food were a bit stronger at 0.26% M/M vs 0.17% in Oct but below the 0.37% average of the last 12 months.
- While there is some debate over the HICP impact of the softer German CPI readings (particularly the significance of statistical effects on package holiday prices which are not included in the Bundesbank's seasonally-adjusted dataset), overall the November report provided continued evidence that the momentum in core metrics is soft overall.
Source: Bundesbank, MNI
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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