S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketHeadline CPI was flat on the month and slowed to 3.4% y/y, undershooting expectations as underlying inflation eased slightly. Despite the softer print, the November CPI is unlikely to influence the RBA’s February decision, with attention firmly on the quarterly inflation data later this month, UOB Group’s economists Lee Sue Ann reports.
Softer monthly CPI unlikely to shift RBA outlook
“Headline CPI was flat m/m and slowed to 3.4% y/y, below expectations. Trimmed mean inflation also eased slightly, while seasonal CPI rose 0.2% m/m.” 21
“Housing CPI rose 5.2% y/y, as electricity costs were up 19.7% y/y due to rebate rolling-off effects. Excluding rebates, electricity rates rose by a more modest 4.6%. Food and transport price inflation remained stable at around 3.3% and 2.7% respectively.”
“The monthly CPI is still relatively new, and the softer Nov reading is unlikely to sway the RBA’s next meeting on 3 Feb. The quarterly inflation report on 28 Jan will matter more.”
