There were no surprises in this morningÃ¢â‚¬â„¢s data, inflation remains subdued, albeit in a slightly stronger month over month pace in non-seasonally adjusted terms (+0.2% vs. -0.1%), in part due to the weak base effect from the previous report. The seasonally adjusted headline (+0.3%) came in stronger than the non-seasonal, while the all important core (+0.1%) was a tad weaker.
The prints were very much in line with this weekÃ¢â‚¬â„¢s OCT MPR report. Policy makers revised forecast was for headline CPI to come in at +1.8%, y/y (July estimates stood at +2.1%), and this morningÃ¢â‚¬â„¢s number matches that for the full quarter while inflation remains below the +2% target.
On a seasonally unadjusted basis, three of the eight major components registered declines, including food, shelter and health. Clothing happened to lead the gains (+3%). Under the special aggregates, energy and gas were down -0.4% and -0.3%, respectively. Prices of consumer goods were up +0.1%, while those of services were +0.2% higher.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.