Eurozone Core & Headline CPI overview

EUROZONE CPI

Eurozone Headline and Core CPI for October both came in as expected (decrease)

Eurozone Headline CPI:

• MoM – Actual 0.1% / Exp. 0.1% / Prev. 0.3%
  
• YoY – Actual 2.9% / Exp. 2.9% / Prev. 4.3% (purple on chart)
  

Eurozone Core CPI:

• MoM – Actual 0.2% / Exp. 0.2% / Prev. 0.2%
  
• YoY – Actual 4.2% / Exp. 4.2% / Prev. 4.5% (blue on chart)
  

The chart below illustrates the direction of the current YoY down trend for both Headline and Core CPI however we are still not at the historical moderate levels of inflation desired. You can see these moderate levels of inflation between 0 – 2% from 2015 – 2020 below.

Comment:

Press play on the chart for new updated releases

🇪🇺 EUROZONE CPI 🇪🇺
The Year over Year (YoY) Eurozone Headline and Core CPI for February 2024 both came in as expected today with decreases.

Month over Month (MoM) also came in as expected however both MoM Headline and Core demonstrated increases versus Jan 2024 (expected).

Eurozone Headline CPI - Decreased ✅
▫️ MoM – Actual 0.6% / Exp. 0.6% / Prev. -0.4%
▫️ YoY – Actual 2.6% / Exp. 2.6% / Prev. 2.8%
(purple on chart)

Headline CPI Summary
The Euro Area YoY inflation rate was 2.6% in February 2024, down from 2.8% in January 2024. A year earlier, the rate was 8.5%.

Eurozone Core CPI - Decreased ✅
▫️ MoM – Actual 0.7% / Exp. 0.7% / Prev. -0.9%
▫️ YoY – Actual 3.1% / Exp. 3.1% / Prev. 3.3%
(blue on chart)

CORE CPI Summary
YoY Core CPI was 3.1% in February 2024, down from 3.3% in January 2024. A year earlier, the rate was 5.6%.

Comment:

🇪🇺 EUROZONE CPI 🇪🇺
The Year over Year (YoY) Eurozone Headline and Core CPI for April 2024 both decreased as expected to 2.4% and 2.9% respectively.

Eurozone Headline CPI
Rep: 2.4%✅ Decreased as Expected ✅
Exp: 2.4%
Prev: 2.6%

Headline CPI Summary
The Euro Area YoY inflation rate was 2.6% in February 2024, down from 2.8% in January 2024. A year earlier, the rate was 8.5%. Now we move lower from 2.6% in March to 2.4% in April. A consistent decline.

Eurozone Core CPI
Rep: 2.9%✅ Decreased as Expected ✅
Exp: 2.9%
Prev: 3.1%

CORE CPI Summary
YoY Core CPI was 3.1% in February 2024, down from 3.3% in January 2024. A year earlier, the rate was 5.6%. Now we move lower from 3.1% in March to 2.9% in April 2024.

The chart above illustrates the direction of the current YoY down trend for both EU Headline and Core CPI.

We are now moving down into the historically moderate levels of inflation that are desirable. You can see these moderate levels of inflation between 0 – 2% from 2015 – 2020 above.

US CPI remains elevated
In contrast the US CPI has not succeeded at penetrating below the 3% level in core or headline inflation.

🔴US Core CPI held at 3.8% from March to April 2024

🔴US Headline CPI increased from 3.2% to 3.5% from March to April 2024

At present CPI on both fronts are increasing in for the US.