Still, the reading added to concerns over mounting inflationary pressure across Europe amid a weakening economic outlook and a deepening energy crisis, Brazils current account recorded a USD 5.7 billion deficit in September, widening from the USD 1.9 billion shortfall posted in the same month last year, and deteriorating from the USD 5.4 billion deficit clocked in August 2022. The Eurozone annual inflation rate was revised slightly down to 9.9 percent in September 2022 from a preliminary estimate of 10.0 percent. Today we will get the important Producer Price Index release at 8:30 a.m. and the FOMC Meeting Minutes release at 2:00 p.m., among others. A year earlier, the rate was 3.6%.
Reuters Daily Gold Update: Wednesday, October 12 Gold Price Going The S&P Global Eurozone Services PMI was revised higher to 48.6 in October of 2022 from a preliminary of 48.2, but still pointed to a third consecutive month of falling services activity and the biggest since February last year, due to weaker demand. Our economists highlight that with gas prices down another near 7% from August to September, energy will again drag on the headline CPI print (+0.28% forecast vs. +0.12% previously).
GDP Looking ahead, Lu said he expects China's CPI will rise 2.3 percent year-on-year and PPI will decline 1.2 percent year-on-year in October on a higher base and slowing economy. A recession in the eurozone has now become the near-consensus view, with the IMF being the latest international institution to predict a contraction in the eurozone economy in 2023. It was the lowest reading since August of 2021. The annual inflation rate in Ethiopia eased for the fourth straight month to 30.7% in September of 2022, from 32.5% in the previous month.
CPI The higher-than-expected inflation prompted some economists to call for a 50bp hike next Tuesday.
September CPI Stocks were volatile yet again on Wednesday ahead of Thursdays September CPI report, which will provide the latest insight into the state of inflation in the American economy. "We forecast a 0.26% increase in headline CPI in September, a bit above consensus expectations for a 0.2% increase and corresponding to a 0.2pp decline in the year-over-year rate to 8.10%. GDP Annual Growth Rate in Euro Area averaged 1.60 percent from 1995 until 2022, reaching an all time high of 14.60 percent in the second quarter of 2021 and a record low of -14.60 percent in the second A year earlier, the rate was 3.6%.
Eurozone Amidst the backdrop of rampant food inflation, this years COP27 in the Egyptian city of Sharm El-Sheikh (November 6-18) will be critical.
EUR/GBP rebounds from multi-week low, retakes 0.8600 mark on Inflation expected to remain manageable this year - China.org.cn Read more. India: Inflation comes in at highest level since April in September. It is a key way to measure changes in purchasing trends and inflation. EUR/USD is seen consolidating last weeks post-ECB rejection slide from the 100-day SMA. A year earlier, the rate was 3.4%. The euro area annual inflation rate was 9.9% in September 2022, up from 9.1% in August.
the cost of living The euro area annual inflation rate was 9.9% in September 2022, up from 9.1% in August. Still, it was the highest rate since comparable records began in 1991, as the euro hit a 20-year low and the bloc's energy crisis deepened. Looking ahead, Lu said he expects China's CPI will rise 2.3 percent year-on-year and PPI will decline 1.2 percent year-on-year in October on a higher base and slowing economy. India: Merchandise exports rise at a faster pace in September. which exceeded 87,000 as of September.
eurozone A seventh consecutive increase in rates will lift them to their highest level since April 2013, but the most aggressive tightening cycle in three decades is expected to push into 2023 after the September quarter CPI rose at a 7.3% y/y pace. Inflation Rate in Ethiopia averaged 17.88 percent from 2006 until 2022, reaching an all time high of 64.20 percent in July of 2008 and a record low of -4.10 percent in September of 2009. 20-month low.
Eurozone Inflation & Interest Rates: Bank Rate Up To 3% In War On Inflation Consumer prices rose an eye-watering 4.0% in Italy in October, a major acceleration from September's 1.4% rise that took the year-on-year rate up to 12.8% under the EU's harmonized methodology. Password requirements: 6 to 30 characters long; ASCII characters only (characters found on a standard US keyboard); must contain at least 4 different symbols;
Mortgage News Daily Eurozone S&P Global Services PMI Flash (OCT) 48.2 vs September 48.8.
Economic Calendar Inflation continues to be the dominant driver of monetary policy which todays data has reinforced, as energy (+4.19%) and food alcohol and tobacco (+2.47%) were the standouts as far as price increases are concerned for the month of September. This means the annual headline rate slows to 8.2% from 8.3% while core rises to 6.6%
Eurozone CPI CPI Read more 29-month low.
Eurozone Eurostat CPI The producer price inflation in the Euro Area eased to 41.9 percent year-on-year in September 2022, down from an all-time high of 43.4 percent in August and slightly below market expectations of 42.0 percent. It suggests eurozone rate-setters are not yet ready to slow the pace of monetary tightening, despite mounting political criticism.
Inflation expected to remain manageable this year - China.org.cn European Union annual inflation was 10.9% in September 2022, up from 10.1% in August.
Eurostat Euro Area Services PMI - October 2022 Data - 2007-2021 CPI The Euro Area economy expanded 2.1% year-on-year in the third quarter of 2022, easing from an upwardly revised 4.3% advance in the second quarter, flash estimates showed. In September 2022, industrial producer prices rose by 1.6% in the euro area and by 1.5% in the EU, compared with August 2022, according to estimates from Eurostat, the statistical office of the European Union. October 14, 2022. European Union annual inflation was 10.9% in September 2022, up from 10.1% in August. New orders went down for a fourth month and output fell the most since February 2021 while backlogs of work moved higher and Todays CPI release comes just two weeks after Eurostat reported that inflation in the euro area hit a new all-time high of 10%. Tomorrow, the Eurozone Final CPI, Final Core CPI, and the US Housing Starts and Building Permits could have an impact.
CPI In the US, prices rose 8.2% in the 12 months to September . The equivalent CPI data from the Eurozone are scheduled for release later in the session, and are also expected to hit double figures, a sharp rise from Augusts annual 9.1%.
Eurostat The print came higher than analysts expectations of 9.7%, marking the fifth straight month eurozone inflation data releases exceeded projections.
Inflation Traders seem reluctant to place aggressive bets ahead of the key central bank event risks.
40-year high for US core inflation heaps pressure on the Fed