Recent Updates
- Macao: Visitor Arrivals (Apr)
- Turkey: Domestic Debt by Holder (APR)
- UK Regional: Northern Ireland: Mortgage Possession (Q1)
- UK Regional: GfK Consumer Confidence Barometer by Region (May)
- North Macedonia: Broad Money, Other Depository Corporations'
- more updates...
Economy in Brief
UK Consumer Sentiment Hits Lowest Reading since 1996
(when the GFK survey began; also lowest reading 'ever')
Of these 13 readings eight of them declined on the month in May three of them improved and two of them were unchanged...
U.S. Existing Home Sales Continue to Fall in April as Houses Become Less Affordable
The combination of soaring home prices across the nation and rising interest rates is making homes less affordable...
U.S. Index of Leading Indicators Fell in April
Five of the index's components fell in April, one was unchanged and four increased...
U.S. Unemployment Claims Rose in the Latest Week
The state insured rates of unemployment in regular programs vary widely...
CBI Gauge in the UK Continues to Be Upbeat
The global economy has a lot of challenges...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
Profits and Margins Plunge In Q1: Expect More Margin Contraction As Fed Squeezes Inflation
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation and Fed Policy: A Relationship which Should Worry the Fed and Scare Investors
Why Have the Yields on TIPS Been Negative in the Past Two Years?
by Robert Brusca October 15, 2007
Italy’s inflation has fallen for the overall measure. But the chart also shows that the CORE inflation has been on a gradually elevating trend. Both the core and headline rate accelerated slightly in terms of their Yr/Yr rates in September. Still, the core and the overall rates are nicely below the ECB’s overall 2% inflation ceiling.
In September, Italy’s inflation report was turbulent. It was bifurcated, with six categories showing inflation on the month (m/m %) of 0.3% or greater. But there were also five main categories with the monthly price level actually falling by 0.2% or more. Food, alcohol and education prices were up the most in the month. The weakest prices were at restaurants and hotels, for recreation and culture and for communications. With this sort of turbulence in the market, it is a difficult time to get a read on true inflation trends in Italy. Diffusion readings show that over 3 months and 6 months inflation is accelerating in more categories that it is decelerating. Year-over-year, Italy’s trends are neutral.
| Italy HICP and CPI details | |||||||
|---|---|---|---|---|---|---|---|
| Mo/Mo % | Saar % | Yr/Yr | |||||
| Sep-07 | Aug-07 | Jul-07 | 3-Mo | 6-Mo | 12-Mo | Yr Ago | |
| HICP Total | 0.3% | 0.2% | -0.1% | 1.5% | 1.7% | 1.8% | 2.3% |
| Core | #N/A | 0.2% | 0.0% | #N/A | #N/A | #N/A | 2.0% |
| CPI | |||||||
| All | 0.2% | 0.1% | 0.2% | 1.8% | 2.3% | 1.7% | 2.1% |
| CPI excl Tobacco | 0.2% | 0.1% | 0.3% | 2.1% | 2.3% | 1.6% | 2.1% |
| Food | 0.7% | 0.4% | 0.4% | 6.1% | 4.3% | 2.9% | 2.4% |
| Alcohol | 0.6% | 0.6% | -0.7% | 2.2% | 2.5% | 2.4% | 5.1% |
| Clothing & Shoes | 0.3% | 0.2% | 0.2% | 2.4% | 1.7% | 1.5% | 1.3% |
| Rent & Utilities | 0.3% | 0.2% | 0.0% | 1.9% | 1.1% | 1.4% | 5.7% |
| Housing & Furniture | 0.2% | 0.2% | 0.2% | 2.2% | 3.5% | 2.8% | 1.5% |
| Health Care | -0.2% | 0.2% | 0.1% | 0.3% | -0.8% | -0.2% | 0.0% |
| Transport | -0.2% | -0.7% | 0.6% | -1.4% | 2.4% | 2.0% | 2.0% |
| Communication | -0.3% | 0.0% | 0.0% | -1.1% | -1.4% | -8.8% | -3.4% |
| Recreation & Culture | -0.4% | 0.3% | 0.1% | 0.0% | -0.5% | 0.2% | 1.1% |
| Education | 0.9% | 0.1% | 0.2% | 5.4% | 4.0% | 3.1% | 2.1% |
| Restaurant & Hotel | -0.5% | 0.3% | 0.3% | 0.5% | 2.4% | 2.4% | 2.4% |
| Other | 0.3% | 0.3% | 0.2% | 3.2% | 3.3% | 2.5% | 2.7% |
| Diffusion | 58.3% | 66.7% | 50.0% | ||||
| Type: | Diffusion: Compared to | 6-mo | 12-mo | Yr-Ago | -- | ||
