December 12, 2023
United States:
Inflation Expected to Stay Flat, Giving Fed Room to Cut Rates
A monthly Bureau of Labor Statistics report due Tuesday is set to show consumer prices were unchanged again in November, giving the Federal Reserve room to consider lower interest rates in the months ahead, according to Bloomberg Economics.
The consumer price index should benefit from a decline in energy prices last month, even if prices excluding food and energy rose faster than in October, Bloomberg economists Anna Wong and Stuart Paul said Monday in a preview of the figures.
Europe:
German Investors’ Outlook Unexpectedly Rises for Fifth Month
Germany’s investor outlook unexpectedly improved for a fifth month, signaling hope that Europe’s biggest economy may be stabilizing as inflation retreats.
An expectations index by the ZEW institute rose to 12.8 in December from 9.8 in November — defying economists’ prediction for a drop. A measure of current conditions also increased.
Asia:
India’s Inflation Accelerates, Fueled by Rising Food Prices
India’s inflation quickened for the first time in four months, while manufacturing production surged more than forecast, giving the central bank reason to keep interest rates higher for longer.
The consumer price index rose 5.55% in November from a year earlier, statistics ministry data showed Tuesday. That’s lower than the 5.78% median estimate in a Bloomberg survey of economists and compares with a reading of 4.87% in October. Growth in factory output accelerated to a 16-month high of 11.7% from revised reading of 6.2% in the previous month, separate government data showed.
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