ECB still faces inflation and output challenges
Surprising inflation numbers and GDP data from Europe will make the ECB’s job even trickier says NAB’s Taylor Nugent.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Tuesday 31st January 2022
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Spain’s inflation numbers provided an unpleasant surprise – core inflation has risen to 7.5%. Meanwhile Germany saw GDP fall in Q4 (QonQ). If these numbers are mirrored across Europe the cocktail of rising inflation and falling output is a challenging one for the ECB. NAB’s Taylor Nugent is asked if we should start talking about stagflation again. Also today we get to see the size of China’s post-lockdown bounce back, the impact of early Christmas shopping on Australia’s December retail numbers and, importantly, ahead of the FOMC, the wage price index for the US.
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