Insights

Macro Insights: European CPI reaccelerates, when economists expected a slowdown

exchange68September 13, 2024

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Quick Take

Consumer price inflation came in hot for the E.U. and accelerated in France and Spain.
Spanish CPI (Y/Y) Feb: 6.1% (est 5.8%; prev 5.9%)
France CPI YoY 6.2% (est. 6.1); MoM 0.9%(est.1%)
E.U. services inflation tends to lag U.S services inflation by around five months, adding to the ECB’s hawkish stance.
As a result, E.U bonds are selling off and the 10-year yield is at its highest level since 2011.

Euro 10 year yield: (Source: Trading View) — Euro 10-year yield: (Source: TradingView)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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