Eurozone PPI just hit an all-time high at 36.8% YoY.
8th consecutive all-time high, previous print was 31.5%.
8th consecutive all-time high, previous print was 31.5%.
+5.3% MoM.
Energy costs are up 104.1%
Producer inflation ex. energy is up 13.6%
major #Quad3 stagflation...
Energy costs are up 104.1%
Producer inflation ex. energy is up 13.6%
major #Quad3 stagflation...
Lagarde's comments in an interview a week ago, "If I raise interest rates today, it is not going to bring the price of energy down"
regarding the consumer:
With Eurozone CPI at 7.5%, the CPI-PPI Divergence expanded to -29.4 (a -6.9 Z Score).
This is the largest divergence of the data set (1997). It's only going to get worse for the consumer from here.
With Eurozone CPI at 7.5%, the CPI-PPI Divergence expanded to -29.4 (a -6.9 Z Score).
This is the largest divergence of the data set (1997). It's only going to get worse for the consumer from here.
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