Inflation came at 2.7 percent in February, marginally down from January’s 2.8 percent and within the central bank’s target of 2.0-4.0 percent. Core inflation dropped from 2.7 percent in January to 2.3 percent in February, the lowest figure since December 2013. The Central Bank predicts year-end inflation of 2.7% in 2017.
The latest economic survey by the Chilean Central Bank showed that although analysts kept unchanged their 2018 GDP estimate, recent data led them to lower their growth expectations for this year. Industrial production returned to the red in January, falling 0.9 percent year-on-year after growing 1.4 percent in the previous month. Mining dropped 1.9 percent and manufacturing fell 1.1 percent.
Statement by the Central Bank of Chile:
The Board estimates that, if the recent trends of the economic scenario persist, and so their implications on the medium-term inflation outlook, it could be necessary to increase the monetary impulse. At the same time, it reiterates its commitment to conduct monetary policy with flexibility, so that projected inflation stands at 3% over the policy horizon.
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- Croatia GDP Annual Growth Rate Croatia’s gross domestic product advanced 3.4 percent year-on-year in the fourth quarter of 2016, following a 2.9 percent growth in the previous period, according to preliminary estimates. It was the strongest expansion since the first quarter of 2008, boosted by household consumption (3.6 percent vs 3.4 percent in Q3) and investments (4.6 percent from 2.9 percent). Meanwhile, the growth slowed for government expenditure (1.8 percent vs 2.1 percent in Q2). The contribution of net foreign demand was negative (-0.3 percent), as exports rose 9.7 percent (6.3 percent in Q3) and imports also advanced 9.7 percent (6 percent in Q3). On...
- Tunisia GDP Annual Growth Rate
The Gross Domestic Product (GDP) in Tunisia expanded 1.10 percent in the fourth quarter of 2016 over the same quarter of the previous year. GDP Annual Growth Rate in Tunisia averaged 3.36 percent from 2001 until 2016, reaching an all time high of 7.40 percent in the first quarter of 2004 and a record low of -2.20 percent in the third quarter of 2011.
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- Malaysia Unemployment Rate Year-on-year, prices increased at a faster pace for : recreation services & culture (+3.3 percent from +3.2 percent). Prices rose at a slower pace for : food & non-alcoholic beverages (+3.7 percent from +3.8 percent in November), alcoholic beverages & tobacco (+0.1 percent from +1.9 percent), education (+1.7 percent from +1.9 percent) and health (+2.4 percent from +2.5 percent). Prices steady for : housing, water, electricity, gas & other fuels (2.1 percent); furnishing, household equipment and routine maintenance (+1.4 percent); restaurants & hotels (+1.9 percent), and miscellaneous goods & services (+1.8 percent). In contrast, downward prices pressure came from: clothing...
- Chile Inflation Rate
Chile’s consumer prices increased 2.7 percent year-on-year in February of 2017, following a 2.8 percent rise in the previous month. Prices increased at a slower pace for housing and utilities (3.5 percent vs 4.5 percent in January), miscellaneous goods and services (4.1 percent vs 4.2 percent), furniture and household equipment (1.8 percent vs 2 percent) and restaurants and hotels (5.1 percent vs 5.5 percent). Also, the inflation rate was steady for education (4.9 percent). Meantime, cost went up faster for food and non-alcoholic beverages (3.5 percent vs 2.5 percent), transport (2.1 percent vs 1.2 percent) and health...
- United States Fed Funds Rate The economy is expected to grow 2.1 percent this year (2.1 percent in the December projection), 2.1 percent in 2018 (2 percent in the December projection) and 1.9 percent in 2019 (1.9 percent in the December projection). Unemployment forecasts were left steady at 4.5 percent for 2017, 2018 and 2019 and PCE inflation was also left unchanged at 1.9 percent for 2017, 2 percent in 2018 and 2 percent in 2019. FOMC Statement: Information received since the Federal Open Market Committee met in February indicates that the labor market has continued to strengthen and that economic activity has continued to...
- Sweden Interest Rate Excerpts from the Statement by the Executive Board of the Riksbank: The economic outlook abroad is brighter in the near term, and the recovery is continuing in line with earlier forecasts. At the same time, there is considerable political uncertainty in several areas of the world, which means that the risks of setbacks have increased. In Sweden, the Riksbank’s expansionary monetary policy has contributed to high growth, falling unemployment, rising inflation and inflation expectations that are back at 2 per cent. CPIF inflation was close to 2 per cent in December, but the recent upturn has been primarily driven by...
- Italy Balance of Trade Year-on-year, exports rose 5.7 percent to €36.21 billion from €34.26 billion, boosted by higher sales of: Coke and refined petroleum products (21.8 percent); vehicles (21.3 percent); sport goods, games, musical instruments and other products (12.3 percent); substances and chemicals (11 percent); and base metals (9.7 percent). By contrast, exports fell for transport equipment (-17 percent). By main industrial groups, sales rose for: Energy (24.5 percent); intermediate goods (6.5 percent); capital goods (4.8 percent); and consumer goods (4.3 percent). The biggest increases in shipments were reported for China (20.9 percent); MERCOSUR countries (19.9 percent); Poland (19.1 percent); the US (12.1 percent);...
- India Interest Rate The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving consumer price index (CPI) inflation at 5 per cent by Q4 of 2016-17 and the medium-term target of 4 per cent within a band of +/- 2 per cent, while supporting growth. The Committee is of the view that the persistence of inflation excluding food and fuel could set a floor on further downward movements in headline inflation and trigger secondorder effects. Nevertheless, headline CPI inflation in Q4 of 2016-17 is likely to be below 5 percent. Favourable base...
- Argentina GDP Annual Growth Rate
The economy of Argentina shrank 2.1 percent year-on-year in the fourth quarter of 2016, following a downwardly revised 3.7 percent decline in the previous period and worse than market expectations of a 2.0 percent contraction. Slower contraction was reported for: investment (-7.7 percent vs -8.2 percent in Q3) and private spending (-2.1 percent vs -2.9 percent) while government spending declined by 2.0 percent (+0.9 percent in Q3). Meanwhile, exports rebounded 7.7 percent (-1.8 percent in Q3) and imports grew by 2.1 percent (-0.7 percent in Q3). On a quarterly basis, the economy expanded by 0.5 percent compared...
- Macau Inflation Rate Consumer prices in Macau rose 1.76 percent year-on-year in January of 2017, compared to a 1.44 percent increase in the prior month. It was the highest inflation rate since July 2016, as upward prices pressure mainly came from: food & non-alcoholic beverages (1.69 percent from 1.85 percent in the prior month), transport (8.12 percent from 6.69 percent), household goods & furnishings (0.88 percent from 0.65 percent), health (3.26 percent from 3.86 percent), recreation & culture (9.03 percent from -0.39 percent), education (7.38 percent from 7.38 percent) and miscellaneous goods and services (1.84 percent from 1.02 percent). In contrast, cost fell...
- Dominican Republic Inflation Rate Consumer prices in Dominican Republic increased 2.3 percent year-on-year in January of 2017, following a 1.7 percent rise in the previous month. It was the highest inflation rate since January last year, as prices went up faster for transport (8 percent vs 5.4 percent in December), housing (6.5 percent vs 5 percent), miscellaneous goods and services (2.8 percent vs 2.7 percent) and education (5.5 percent vs 5.1 percent). Additional upward pressure came from restaurants and hotels (1.6 percent vs 2 percent), furnishing (0.7 percent, the same pace as in December), communications (2.9 percent, the same pace as prior), recreation and...
- Czech Republic Inflation Rate
Czech consumer prices increased by 2.5 percent year-on-year in February 2017, following a 2.2 percent gain in the previous month and beating market expectations of a 2.4 percent rise. It was the highest inflation rate since November 2012, as cost rose at a faster pace for: Food and non-alcoholic beverages (4.6 percent from 3.5 percent in January); transport (6.6 percent from 5.1 percent); and recreation and culture (0.8 percent from 0.5 percent). Additional upward pressure came from: Housing and utilities (0.8 percent, the same as in January); and alcoholic beverages and tobacco (3.1 percent from 3.7 percent)....
- Germany Inflation Rate Year-on-year, cost of goods as a whole rose 3.2 percent, following a 2.7 percent rise in the preceding month, mainly due to the rise in energy and food prices. Energy prices as a whole increased by 7.2 percent in February, following a 5.9 percent rise in January. Prices went up sharply for heating oil (43.8 percent), followed by motor fuels (15.6 percent) and electricity (1.6 percent). By contrast, cost fell for charges for central and district heating (-4.7 percent) and gas (-3.2 percent). Excluding energy prices, the inflation rate would have been 1.7 percent; and excluding the prices of mineral oil products,...
- Sweden Inflation Rate Swedish consumer prices rose by 1.4 percent year-on-year in January 2017, following a 1.7 percent increase in the previous month and missing market expectations of a 1.5 percent gain. Prices rose at a slower pace for: Housing and utilities (1.9 percent from 2.6 percent in December); miscellaneous goods and services (1.4 percent from 2.6 percent); and clothing and footwear (2.2 percent from 2.9 percent). Additional upward pressure came from: Food and non-alcoholic beverages (1.7 percent from 1.6 percent in December); transport (3.8 percent from 3.5 percent); and recreation and culture (0.1 percent from -0.2 percent). On a monthly basis, consumer...
- Slovenia Inflation Rate Consumer prices in Slovenia increased 2.2 percent year-on-year in February of 2017, compared with a 1.3 percent rise in the previous month. It is the highest inflation rate since August 2013, mainly driven by prices of food and non-alcoholic beverages (3.6 percent vs 2.8 percent in January), namely vegetables, fruit and meat; and transport (4.3 percent vs 3.3 percent). Additional upward pressure came from: housing (2.9 percent vs 1.4 percent), recreation and culture (1.5 percent vs -0.9 percent), miscellaneous goods and services (1.9 percent vs 1.6 percent), restaurants and hotels (0.8 percent, the same as in prior month), health (0.9...
- Dominican Republic Interest Rate
The central bank of the Dominican Republic raised its benchmark interest rate by 25bps to 5.75 percent at its April 2017 meeting. Policymakers said the decision took into account the outlook for inflation and growth, market expectations and the international environment. The inflation increased to 3.34 percent in February, coming back to the central bank target range of 4% ± 1% for the first time since August of 2014 and is expected remain around target in the monetary policy horizon. Economic activity continues to grow above its potential, although it is expected to converge to this level...
- South Africa Interest Rate Excerpts from the statement issued by Lesetja Kganyago: The inflation forecast of the Bank has deteriorated since the previous meeting of the MPC. Headline inflation is now expected to only return to within the target range during the final quarter of 2017, and to average 6.2 per cent for the year, compared with 5.8 per cent in the previous forecast. The forecast for 2018 is more or less unchanged at an average of 5.5 per cent. The peak of the forecast remains at 6.6 per cent, which was recorded in the final quarter of 2016, and this level is now...
- Finland GDP Annual Growth Rate The Finnish gross domestic product advanced 1.3 percent year-on-year in the fourth quarter of 2016, better than a preliminary reading of 0.2 percent, and following an upwardly revised 1.9 percent growth in the previous period, final data showed. Fixed investment was the main driver of growth (8.1 percent from 4.5 percent in Q3), while household consumption increased at a slower pace (2 percent from 2.3 percent) and government spending contracted (-1.3 percent from 0.5 percent). On a quarterly basis, the economy showed no growth, compared to an upwardly revised 0.6 percent growth in the third quarter. In 2016, the economy...
- Serbia Inflation Rate Consumer prices in Serbia increased 2.4 percent year-on-year in January of 2017, following a 1.6 percent rise in December and above market expectations of 1.8 percent. It was the highest inflation rate since January 2016, boosted by cost of food and non-alcoholic beverages (1.2 percent from 0.4 percent in December); transport (5.8 percent from 3.2 percent); housing (1.4 percent from 1.3 percent); furnishings (1.7 percent from 1.2 percent); restaurants and hotels (1.3 percent from 0.9 percent) and health (2.1 percent from 1.8 percent). On a monthly basis, consumer prices jumped 1.4 percent. Inflation Rate in Serbia averaged 6.37 percent from...
- Finland Inflation Rate
Consumer prices in Finland increased by 1.2 percent year-on-year in February 2017, after rising by 0.8 percent in the previous month. It was the highest inflation rate since September 2014 with the biggest upward pressure coming from: Transport (4.5 percent from 3.7 percent in January); housing and utilities (1.4 percent from 1.7 percent); alcoholic beverages and tobacco (3.5 percent, the same as in January); health (2.6 percent from 3.2 percent); restaurants and hotels (1.4 percent, the same as in January); and clothing and footwear (1.8 percent from -0.5 percent). On a monthly basis, consumer prices increased by...