Inflation will get tricky to forecast due to VAT-base effects in the coming months and potential big volatility in utility costs in January. The December numbers look off for France and Spain in particular.

Inflation will get tricky to forecast due to VAT-base effects in the coming months and potential big volatility in utility costs in January. The December numbers look off for France and Spain in particular.
Overall food for doves in the inflation report as some of the wage intensive categories show CLEAR signs of decelerating. Used cars increase a whooping 4.45% on the month and without it this would have been a HUGE dovish surprise.