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01 Nov 2024
Global CPI Changes in October
Keywords
Eurozone: Eurozone CPI growth rebounded in October, with a year-on-year increase of 2%, surpassing both the previous month and expectations. Food prices saw the largest increase, rising from 2.4% in September to 2.9% in October. Core inflation, which excludes volatile factors and energy prices, also slightly exceeded expectations.
France: France’s October CPI rose by 0.2% month-on-month, meeting expectations of a 0.2% increase.
Switzerland: Switzerland’s October CPI decreased by 0.1% month-on-month, against an expected 0%, following a previous decline of 0.3%. The year-on-year CPI rose by 0.6%, below both the forecasted and previous 0.8%. Meanwhile, real retail sales for September increased by 2.2% year-on-year, with the prior figure revised down from 3.2% to 2.7%.
Germany: Germany’s CPI grew by 2% year-on-year in October, exceeding expectations of 1.8%. Month-on-month, the CPI rose by 0.4%, above the anticipated 0.2%.
China: On October 31, China’s National Bureau of Statistics reported a Manufacturing Purchasing Managers' Index (PMI) of 50.1 for October, a 0.3-point increase from September. This marked a return to expansion territory after five months below 50%, with 12 of the 21 sub-industries showing a PMI above 50, indicating growth across most sectors.
Indonesia: Indonesia’s October CPI rose by 1.71% year-on-year, slightly above the forecasted 1.66%. Month-on-month, CPI increased by 0.08%, surpassing expectations of 0.03%. Core CPI rose by 2.21% year-on-year, higher than the anticipated 2.09%.
Japan (Tokyo): Tokyo’s core CPI rose by 1.8% year-on-year in October, marking the first time in five months it fell below the Bank of Japan’s 2% target. Non-public sector services increased by 1.1% year-on-year, slightly down from September’s 1.2% rise. Tokyo’s inflation data is viewed as an indicator for national trends.
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