Fri, Nov 6 2009, 12:34 GMT
by UniCredit Research
Country data so far available in October suggest a low risk of revision to the eurozone flash estimate (-0.1% yoy). The final release will be out on November 16: we have penciled in a 0.25pp boost to the headline rate coming from energy, while food inflation probably eased a bit further and core inflation was unchanged at 1.2% yoy.
In November, the eurozone inflation rate will rise strongly and exit negative territory. Once again, energy will be the main driver, with the price of oil products up strongly on a monthly basis and the base effect turning even more unfavorable. We confirm our preliminary estimate of +0.5% yoy on the headline (with upside risks). 2009 should close with inflation at 1% yoy.
In a medium-term perspective, we note that the lack of pressures on food inflation continues to counterbalance rising energy prices. The last set of data for PPI and selling price expectations at food producing companies still suggests benign retail food prices at least over the next three-six months.
Published on Fri, Nov 6 2009, 12:39 GMT
UniCredit Group
| Via A. Specchi, 16 00186 Roma
http://www.unicreditmib.eu/ | communication@unicreditgroup.eu
Weekly Focus - Squaring positions by Danske Bank A/S
Fri, Nov 20 2009, 16:45 GMT
Intraday Forex Technical Report - U.S. Update: More dollar corrections by FXstreet.com Independent Analyst Team
Fri, Nov 20 2009, 16:15 GMT
Weekly Market Commentary - The trend to lower interest rates continues by Mizuho Corporate Bank
Fri, Nov 20 2009, 15:48 GMT
Interest Rate Monitor - Trichet tempers European rate rally by Interactive Brokers LLC
Fri, Nov 20 2009, 15:10 GMT
Currency Majors Technical Perspective by FXstreet.com Independent Analyst Team
Fri, Nov 20 2009, 14:22 GMT
inflation, highlighted, eurozone
View AllWall Street ends Friday in negative; Dollar with gains
FXstreet.com | Fri, Nov 20 2009, 22:14 GMT
Peru's Main Stock Indexes End Mixed; Sol Weakens Slightly
Dow Jones | Fri, Nov 20 2009, 21:36 GMT
Forex: EUR/USD ends week with moderate losses
FXstreet.com | Fri, Nov 20 2009, 21:27 GMT
Canada Afternoon: C$ Ends Lower Amid Subdued Risk Sentiment
Dow Jones | Fri, Nov 20 2009, 21:12 GMT
Forex: GBP/USD fails to hold above 1.6500
FXstreet.com | Fri, Nov 20 2009, 20:35 GMT
inflation, highlighted, eurozone
View AllGET CASH BACK FOR YOUR TRADES! Learn more about the Pip Rebate Program