December 23, 2022
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.
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.