According to a flash estimate from Eurostat, Eurozone annual inflation is projected to rise to 2.4% in December 2024, up from 2.2% in November.
In the euro area, services are expected to lead annual inflation with a rate of 4.0%, up slightly from 3.9% in November. Food, alcohol, and tobacco are forecast to remain steady at 2.7%, unchanged from November. Non-energy industrial goods are projected to dip to 0.5%, down from 0.6% in the previous month. Energy inflation is anticipated to rebound to 0.1% after falling by -2.0% in November.
Source: Eurostat
Global markets remained focused on U.S. fiscal concerns, shifting central bank expectations, and renewed Middle East tensions.
Fed Inflation Concerns RemainThe latest Federal Reserve minutes show that inflation remains a central concern for policymakers, even as recent economic data has reduced the urgency for another rate increase. Some officials believe price pressures are becoming more widespread, while a smaller group directly supported further tightening.
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Dollar Falls on Debt Concerns as Yields Rise (24 – 28 August)Global markets entered the week with the US dollar under continued pressure as concerns over federal debt and Treasury market management moved to the center of investor attention. The Dollar Index hovered near 98.8 following sharp losses in the previous week, while the US Treasury’s expanded bond buyback programme pushed longer-term yields and the dollar lower. The move supported gold, silver, and major currencies, while investors assessed its longer-term implications for US borrowing costs and the yield curve.
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