We’d expected a large fall in Czech inflation in January, but the collapse from 6.9% y/y in December to just 2.3% y/y shows that price pressures are dissipating even more quickly than we’d anticipated...

Saudi Arabia’s headline inflation rate edged up from a two-year low of 1.5% y/y in December to 1.6% y/y in January, but we expect that inflation will ease again in the coming months and remain low...

Non-labour input costs are now moderating which should soon result in a more rapid slowdown in consumer price inflation than most are anticipating.

The strong reaction to the January CPI data demonstrates that markets still don’t fully comprehend that the Fed is focused on the alternative PCE measure of inflation. While core CPI inflation was...