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Something for your Espresso: EUR-flation to print below consensus again

Inflation evidence keeps coming in soft in Europe and early evidence from Germany and France support another dovish surprise. Meanwhile, rates are coming down again.
2024-01-04

Good morning from a disinflationary and snowy Europe!

The inflation evidence keeps coming in on the soft side in Europe and inflation will print (markedly) below consensus again for December.

The evidence from North Rhine Westphalia this morning was soft and core inflation keeps running at a pace below 0.2% in Seasonally Adjusted terms.

Chart 1: Another soft German regional CPI print

Inflation evidence keeps coming in soft in Europe and early evidence from Germany and France support another dovish surprise. Meanwhile, rates are coming down again.

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