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Economy in Brief
U.S. New Home Sales and Prices Strengthen
Sales of new single-family homes during March increased 4.0% (8.8% y/y) to 694,000 (SAAR)...
U.S. FHFA House Price Index Continues to Strengthen
The FHFA index of U.S. house prices rose 0.6% during February...
U.S. Energy Prices Rise Further
Retail gasoline prices increased to $2.80 per gallon last week (14.3% y/y)...
Italian Confidence Backtracks But Remains High-Valued As It Is for France and Germany
From Q1 2008 to date, Italian GDP actually has failed to grow and has declined by 5.8%...
U.S. Existing Home Sales & Prices Rise Again
The NAR reported that sales of existing homes increased 1.1% during March (-1.2% y/y) to 5.600 million units (AR)...
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 | -- | ||
