Iran War Drives Oil Costs Into Europe's September Inflation Data
Spain, France and Poland posted higher inflation in September, with energy costs driven by the Iran war pushing prices above forecasts.
Spain, France and Poland posted higher inflation in September, with energy costs driven by the Iran war pushing prices above forecasts.
US core PCE inflation slowed to 3.0% year-over-year in July, below the 3.3% expected, easing pressure on the Fed.
Germany's preliminary September CPI rose to 3.3% year on year, above the 3.1% forecast and up from 2.9%; core inflation held at 2.4%.
Today's PCE data will test stocks, crypto, and Trump's political standing as voters focus on prices ahead of midterms.
All four German state CPI readings accelerated in September, raising the likelihood that national inflation will again exceed 3%.
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France's September HICP increased to 3.4% y/y, exceeding expectations, and CPI rose 3.0%, adding to euro area inflation worries.
French CPI rose to 3.0% y/y in September, above expectations of 2.8%, while HICP came in at 3.4%, also above forecast.
German import prices rose 1.0% month-on-month in August, pushing the annual rate to 8.3%, the highest since December 2022.
Germany's retail sales rose 1.3% in August from July, missing the 1.5% forecast, after a steep 3.4% monthly drop.
German import prices rose more than expected in August, with both monthly and annual readings exceeding forecasts.
The dollar heads for its best month since June on hawkish Fed signals, while bitcoin has risen 6.14% in September.
German September CPI is seen accelerating to 3.1% y/y, driven by energy costs. Focus falls on core inflation for signals on the ECB's policy path.
Australia's headline CPI rose to 4% in August, meeting economists' expectations and accelerating from the prior 3.5%.
ANZ's September survey shows NZ business confidence easing to +52, with late responses hit by higher oil prices. Inflation expectations held at 3.25%.