Recent Updates
- US: Consumer Sentiment (Aug-prelim), Import/Export Prices (Jul)
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Economy in Brief
U.S. Housing Affordability Declines Further in June
The NAR Fixed Rate Mortgage Housing Affordability Index fell 3.6% in June...
EMU Output Makes Solid Gain in June
The European Monetary Union posted a 0.7% increase for industrial output in June...
U.S. Producer Prices Fall During July; Core Increase Weakens
The Producer Price Index for Final Demand fell 0.5% during July...
U.S. Unemployment Claims Continue on an Uptrend
Initial claims for unemployment insurance filed in the week ended August 6 rose 14,000 to 262,000...
RICS Survey Points to More U.K. Housing Sector Weakness
The survey of housing market conditions in the U.K. continues to show strength in prices versus weakness...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Robert Brusca September 14, 2007
German inflation trends are mixed but on balance softer, kinder.
Inflation trends in Germany are cooling for both the core and headline in terms of their respective sequential rates of growth. The diffusion calculations at the table bottom look at accelerating Vs decelerating trends. A diffusion value above 50% shows more acceleration while below 50% shows less. While inflation has accelerated Yr/Yr over six months and three months it is ratcheting lower. The drop in Germany inflation’s pace seems to be authentic. As the Euro area's strongest economy and one where growth is also export-led, we should wonder how much of this is being induced by the strength of the euro. We have seen already reports of irregular output and sharply reduced orders growth in Germany. Is that the price Germany is paying for having such good inflation results?
| Mo/Mo % | Saar % | Yr/Yr | |||||
| Aug-07 | Jul-07 | Jun-07 | 3-Mo | 6-Mo | 12-Mo | Yr Ago | |
| HICP Total | -0.1% | 0.2% | 0.2% | 1.2% | 1.8% | 2.0% | 1.7% |
| Core | 0.1% | 0.2% | 0.1% | 1.6% | 1.8% | 2.2% | 0.8% |
| CPI | |||||||
| All | 0.1% | 0.3% | 0.1% | 1.8% | 2.7% | 2.0% | 1.7% |
| CPI excl Food & Energy | 0.2% | 0.1% | 0.1% | 1.5% | 2.0% | 2.0% | 0.8% |
| Food | 1.1% | 0.6% | 0.1% | 7.2% | 4.3% | 2.4% | 2.6% |
| Alcohol | 0.0% | 0.0% | 0.3% | 1.1% | 1.7% | 2.1% | 2.0% |
| Clothing & Shoes | -0.4% | -0.6% | -0.2% | -4.8% | -3.2% | 0.9% | -0.8% |
| Rent & Utilities | 0.1% | 0.2% | 0.2% | 1.8% | 1.4% | 1.4% | 2.7% |
| Health Care | 0.4% | 0.4% | 0.5% | 5.2% | 3.0% | 1.4% | 1.0% |
| Transport | -0.9% | -0.1% | 0.0% | -3.9% | 2.7% | 1.9% | 2.8% |
| Communication | 0.1% | -0.3% | -0.2% | -1.7% | -0.4% | 0.7% | -3.7% |
| Recreation & Culture | -1.1% | 1.3% | -0.1% | 0.4% | -0.6% | 0.8% | -0.4% |
| Education | 0.8% | -0.1% | 0.3% | 4.1% | 61.2% | 28.7% | 2.5% |
| Restaurant & Hotel | 0.0% | 0.0% | 0.0% | 0.0% | 1.6% | 2.6% | 1.0% |
| Other | 0.2% | 0.1% | 0.2% | 1.8% | 1.4% | 2.3% | 0.9% |
| Diffusion | -- | -- | -- | 45.5% | 36.4% | 72.7% | -- |
| Type: | Diffusion: Current Compared to | 6-mo | 12-mo | Yr-Ago | -- | ||
