Markets Today started somewhat as expected. French and Spanish September CPI data printed below consensus. French prices fell by 1.2% M/M to 1.5% Y/Y (from 2.2%), the first sub-2% reading since July 2021. Significantly lower fuel prices, but also lower services costs (turnaround after Olympics) drove the move. Spanish inflation was 0.1% M/M lower with […]
Summary This morning’s CPI report was arguably the most encouraging one the FOMC has received since it began its inflation fight nearly two and a half years ago. Consumer prices declined by 0.1%, led lower by a drop in energy prices and a modest increase in food prices. Excluding food and energy, the core CPI […]
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