UK Data Response Consumer Prices & Producer Prices (Oct.) The recent upward trend in CPI inflation came to a halt in October. And while inflation could still inch up a little further in November, it is now likely to be close to its peak. 14th November 2017 · 1 min read
Nordic & Swiss Data Response Swe. Consumer Prices (Oct.), Nor. & Fin. GDP (Q3) As October’s drop in Swedish inflation was almost entirely due to energy, we are not convinced that it means QE will be extended in December. Meanwhile, following stronger-than-expected GDP growth in... 14th November 2017 · 1 min read
India Data Response Wholesale Prices (Oct.) Much like the consumer price inflation data released yesterday, wholesale price inflation came in above expectations in October. Policymakers put less weight on the WPI measure, but any lingering... 14th November 2017 · 1 min read
Global Economics Focus Will inflation ever pick up again? We think the average inflation rate in advanced economies will remain lower than it was in the pre-crisis period for the foreseeable future, for several reasons. In some economies, there is more spare... 13th November 2017 · 1 min read
India Data Response Consumer Prices (Oct.) Indian consumer price inflation accelerated in October, and looks set to rise further over the coming months. As such, there is no scope for further monetary loosening. 13th November 2017 · 1 min read
UK Economics Weekly Higher oil prices not a major threat to the inflation outlook As a result of the rise in oil prices in recent weeks, CPI inflation will certainly be a bit higher than we had previously anticipated in the near term. This suggests that it won’t be long before the... 10th November 2017 · 1 min read
Canada Economics Weekly Bank of Canada likely on hold until well into 2018 Bank of Canada Governor Stephen Poloz’s speech earlier this week was too dismissive of the current weakness of underlying inflation, although that isn’t a surprise given the Bank’s interest rate hikes... 10th November 2017 · 1 min read
Latin America Data Response Brazil Consumer Prices (Oct.) The rise in Brazilian inflation from 2.5% y/y in September to 2.7% y/y in October, is likely to be the start of a gradual upwards trend. Nevertheless, we expect inflation to remain below the central... 10th November 2017 · 1 min read
Nordic & Swiss Data Response Norwegian and Danish Consumer Prices (Oct.) The sharp decline in inflation over the past 15 months has largely run its course, but it is unlikely to rebound strongly. We think that core inflation will remain well below the Norges Bank’s 2.5%... 10th November 2017 · 1 min read
Japan Economics Weekly Why is wage growth still subdued? Wage growth is likely to pick up over coming months as the labour market remains extremely tight. But unusually low job mobility in Japan, which is linked to the widespread use of seniority wages and... 10th November 2017 · 1 min read
Nordic & Swiss Economics Update Markets underestimating Riksbank rate rises As today’s minutes show few signs that policymakers are concerned about the economy overheating, we have pushed back our forecast for a rate rise to September 2018. But we still expect rates to be... 9th November 2017 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Oct.) The further drop in Egyptian inflation in October, to 30.8% y/y from 31.6% y/y in September, is welcome but probably not enough for the central bank to cut interest rates at its meeting next week. We... 9th November 2017 · 1 min read
China Data Response Consumer & Producer Prices (Oct.) Higher-than-expected inflation last month means that the China reflation story remains alive for now. But with the economy set to soften in the coming quarters and current price gains partly the... 9th November 2017 · 1 min read
Latin America Data Response Chile Consumer Prices (Oct.) The stronger-than-expected pick-up in Chilean inflation in October is likely to ease fears among the central bank’s Board that below-target inflation is becoming entrenched. Even so, with inflation... 8th November 2017 · 1 min read
India Economics Update Inflation will resume accelerating soon We think that consumer price inflation held steady in October as a slight rise in food inflation was offset by a drop in fuel inflation. But with core price pressures building, inflation is likely to... 8th November 2017 · 1 min read
Emerging Europe Data Response Russia CPI (Oct.) The fall in Russian inflation to 2.7% y/y in October means another 25bp cut at the central bank’s Board meeting in December is highly likely. Inflation has probably reached a trough, but we expect the... 7th November 2017 · 1 min read
