In November US inflation rose by 6,8% annually, a figure substantially in line with expectations (equal to +6,7%) which however represents the largest increase recorded since June 1982. This is certified by the Labor Department, according to which, compared to October, consumer prices have marked an increase of 0,8%, against expectations of +0,7%.
Lcore inflation, i.e. excluding the food and energy price component, grew from 4,6 to 4,9% in November, while on a monthly basis the increase is half a percentage point after +0,6% in October , again in line with expectations. Finally, prices in the food sector grew on a monthly basis by 0,7%, those of energy increased by 3,5%, with that of petrol up by 6,1%. In the last year, energy prices increased by 33,3%, those of food by 6,1%.
With the long-awaited inflation data coming, markets are already thinking about what could happen next week, when the Federal Reserve could decide to accelerate the squeeze on stimuli to avoid further price tensions. Based on expectations, the US central bank could announce on December 15th a monthly cut $ 30 billion to the bond purchase program, currently equal to 120 billion a month. Double the 15 billion previously forecast.
The new arrivals on consumer prices, which this time did not hold any unpleasant surprises, were welcomed positively by investors, with Wall Street which opened the session higher. Above all, the Nasdaq (+0,84%) is running, pushed upwards by the rally of Oracle (+17,6%). Purchases also on the S&P (+0,68%), while the Dow Jones joins the general sentiment, gaining 0,44%. After the publication of the data, the T-bonds at 2 years it remains unchanged at 0,686%, while the 1,5-year yield is stable at XNUMX%. The dollar moved little.
It should be emphasized that the data on theGerman inflation which, according to Destatis, fell by 0,2% on the month in November and rose by 5,2% on the year. The harmonized Ipca index, on the other hand, grew by 0,3% on the month and by 6% on the year.
