quick take
- Inflation is starting to reaccelerate in many Western countries as real interest rates continue to be negative (meaning interest rates are lower than inflation).
- Last week, the US PCE index reached 4.4%, better than expected.
- In the UK, core inflation accelerated again to the highest level in 40 years.
- New inflation figures from other Western countries, including France, Italy and Australia, are also worrying.
- according to PIQthe Australian CPI was: 6.8% But the forecast was 6.4%.
- Italy’s CPI rose 7.6% year-on-year, compared to expectations of 7.4%, according to Macrobond.
- Finally, French core CPI hit a new high of 6.27%, according to macrobonds.
The reacceleration of Western inflation in 2023 first appeared on CryptoSlate.
