Harmonized Consumer Price Index
Harmonized Consumer Price Index latest publications
CPI flash estimate suggests that general consumer prices fell by -0.6% YoY in July, 0,2pp less than what was expected and to the fall of June. Our estimates suggest that energy is the only component that contributes negatively to inflation, while the growth in core prices would have remained stable at around 0.6% YoY.
CPI flash estimate signals that general consumer prices fell by -0,8% YoY in June, 0,2pp less than what was expected and to the fall in May. Our estimations suggest that energy is the only component that has a negative contribution on inflation, while growth in core prices should have remained stable at around 0,7% YoY.
In May inflation slowed its drop to -1% YoY, due mainly to a lower annual decrease of energy prices (-14% YoY). Meanwhile, core inflation remained stable at 0.7% YoY. Forward, we expect that these trends will continue: stability in core inflation and less downward pressure on energy inflation
Inflation increased by 0.1pp to -0.1% YoY in May, due to the moderation of falling energy prices and the increase in services inflation, which raised core inflation by 0.1pp to 0.8% YoY. We still see low and relatively stable core inflation, while oil prices will maintain headline inflation in negative territory or very low…
CPI flash estimate points at a fall in general consumer prices in May of -1,0% YoY, 0.1pp lower than expected. The number is also smaller than the fall in the previous month. Our forecasts suggest that core inflation remained stable at 0,7% YoY, while energy was the only component that contributed negatively.
In April inflation rate of decline deepened to -1.1% YoY, as the increase in core inflation moderated to 0.7% YoY and the energy continued pushing down hard (-15 , 1% YoY). Forward, we expect the positive trend in the core component to be maintained, and that the pressure on the price of raw materials attenuate progressively
Inflation decreased by 0.2 pp to -0.2% YoY in April, due to the reduction in energy prices and the moderation in services inflation, which led core inflation to moderate to 0.8% YoY. This was expected given the significant increase in March due to calendar effects.
CPI flash estimate signals that general consumer prices fell in April by 1,1% YoY, which was more than expected and three percentage points bigger than in March. Our forecasts suggest that core inflation could have moderated in 0.2pp down to 0,9% YoY, and that energy is the only component that negatively contributes to infl…