Technical Analysis

Eurozone November preliminary CPI +10.0% vs +10.4% y/y expected

  • Prior +10.6%
  • Core CPI +5.0% vs +5.0% y/y expected
  • Prior +5.0%

The headline reading may be softer than expected but notice that the core reading remains unchanged from October, holding at a record high. As mentioned here yesterday, the softer price pressures are largely to do with a drop in energy costs but we are seeing higher prices be embedded in other areas of the economy and that is reflected by the core reading.

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