Overseas Headlines – December 23, 2022

December 23, 2022

United States:

US Personal-Consumption Inflation Cools; Spending Misses Forecasts

A key gauge of US inflation continued to moderate last month while spending stagnated, extending a welcome easing in price pressures but far short of the moderation the Federal Reserve is seeking to pause interest-rate hikes.

The personal consumption expenditures price index excluding food and energy, which Fed Chair Jerome Powell has stressed is a more accurate measure of where inflation is heading, rose 0.2% in November from a month earlier, Commerce Department data showed Friday.




Warmth Drags European Gas to Biggest Weekly Drop Since September

European natural gas headed for the biggest weekly decline since September, driven lower by mild weather which is expected to remain over most of the region during the holiday season.

Benchmark futures tumbled as much as 8.8% in thin pre-Christmas trading and are more than 25% lower for the week. Temperatures are forecast to be normal to above-average through early January, with unseasonable warmth in parts of central and southern Europe.




Singapore Core Inflation Holds in November at Same Pace

Singapore’s core inflation rose in November at the same pace as the prior month, giving some room for policymakers to focus more on mounting pressures to economic growth.

Core inflation, which excludes private transport and accommodation and is closely watched by the central bank, increased 5.1% from a year earlier for a second straight month.




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