Euro area annual inflation down to 2.4% | Crypto Craft

  • Euro area annual inflation down to 2.4%

    From ec.europa.eu

    Euro area annual inflation is expected to be 2.4% in November 2023, down from 2.9% in October according to a flash estimate from Eurostat, the statistical office of the European Union. Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in November (6.9%, compared with 7.4% in October), followed by services (4.0%, compared with 4.6% in October), non-energy industrial goods (2.9%, compared with 3.5% in October) and energy (-11.5%, compared with -11.2% in October).

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MatTrader101
Nov 30, 2023 4:14am — Edited
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Quoting swagtrading
When does this dis-inflation turn into deflation! ECB appears to have done a good job so far.
If inflation is falling that hard, remember interest rates lag 6 - 12 months, so Eurozone is actually in big big trouble.

Unemployment in Germany and Italy sky rocketed, France/Germany/Italy are all in deep recession, manufacturing output is at the lowest in a decade, even IF they do ratecuts, it means that the economy is absolutely screwed.
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Trivion
Nov 30, 2023 5:03am
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Quoting Vancarbon
Money printing =inflation =Zimbabwe
Yes, they printed way too much money during Covid and took too long to start raising rates. But now they run the same risk but on the opposite side: overtighten and crash the economy.
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Trivion
Nov 30, 2023 9:36am
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Quoting Vancarbon
Energy is being manipulated so as to make it appear that inflation is coming down
Nevertheless, energy prices have fallen significantly this year. For example, crude oil prices are down on average 17% YTD in 2023, compared to 2022. (see picture)
Attached Image (click to enlarge)
Click to Enlarge Name: Macrotrends. WTI Crude oil.png Size: 14 KB
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swagtrading
Nov 30, 2023 4:09am
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When does this dis-inflation turn into deflation! ECB appears to have done a good job so far.
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jordanvic
Nov 30, 2023 4:02am
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Congratulations ECB!
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Trivion
Nov 30, 2023 4:30am
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Maybe the ECB shouldn't have raised rates this high. (the same goes for the Fed)
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Trader#48D6
Nov 30, 2023 4:03am
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Holy crap...

ECB will be cutting rates soon into 2024.

Inflation seems to dead and a thing of the past... trend is clear -> deflation (overtightened).
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