Euro-area Inflation: Headline pressures rise – Nordea
Nordea’s Global Macro team of Tuuli Koivu, Jan von Gerich and Anders Svendsen note Euro-area inflation accelerated in September, driven mainly by energy and food.
Nordea's Global Macro team's recent report highlights a surge in Euro-area inflation in September, primarily fueled by energy and food price hikes. Core inflation remains relatively steady, while broader price pressures are moderate. The team anticipates no immediate rate hikes from the European Central Bank (ECB) at their upcoming policy meeting.
Oil market volatility and geopolitical tensions in the Middle East, coupled with positive insights on Red Sea traffic, make it difficult to predict future energy price pressures. Consequently, the team maintains unchanged forecasts for rate hikes in December and March, dismissing the likelihood of another increase in October.
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