Germany Import Prices +26.9% YoY (up from 24%)
Highest since 1974.
Led by Energy prices +144.4%. (Natural gas is +302.7%) pic.twitter.com/hBjjbT92ZI
— Hedgeye (@Hedgeye) February 25, 2022
France PPI +22.2% YoY (prev. 18%)
Spain PPI +35.7% (prev. 35.2%)
Both All-Time Highs.
— Hedgeye (@Hedgeye) February 25, 2022
Aluminum LME @thedailyshot pic.twitter.com/HkXLoh3wCs
— Win Smart, CFA (@WinfieldSmart) February 25, 2022
A key inflation measure is expected to show that consumer prices rose at their fastest pace since 1982 in the 12 months ending in January. The crisis in Ukraine could push prices even higher.
Full coverage from @jeannasmialek here:t.co/5BSkIbq2MW— Ben Casselman (@bencasselman) February 25, 2022
Fed’s ‘Favorite’ Inflation Indicator Hotter Than Expected At 40-Year Highs
That is the biggest MoM jump in spending since March 2021 and given the lack of income gains, sent the savings rate plunging to just 6.4% of DPI – the lowest since Dec 2016!
Grocery Prices Continue Rising
- Food and beverage giants say consumers aren’t balking yet at paying more for their Lay’s chips and Tyson chicken nuggets.
- But those comments preceded the Russian invasion of Ukraine, which has already led to surging prices for oil and gas, metals and grains.
- Walmart said earlier this month that consumers are aware of rising prices but haven’t changed their behavior yet.
US Financial Conditions Index per @GoldmanSachs at tightest since November 2020 pic.twitter.com/0awELSEHUh
— Liz Ann Sonders (@LizAnnSonders) February 25, 2022
And there it goes pic.twitter.com/BJNyPF2MnT
— Chris Bailey (@Financial_Orbit) February 25, 2022
Eyewatering t.co/4Ul0Ky80eB
— Tracy (𝕮𝖍𝖎) (@chigrl) February 25, 2022
In 2 short weeks, U.S. interest rate futures have moved from indicating high conviction of 50-basis point hike at March 16 meeting, to having almost as much conviction of 25-basis point hike
@SPDJIndices @CMEGroup pic.twitter.com/lUohQbN9pU— Liz Ann Sonders (@LizAnnSonders) February 25, 2022
UMich Consumer Sentiment Remains At 11-Year-Lows; ‘Rich’ & ‘Independents’ Weakest
Having tumbled to decade (or worse) lows in the preliminary February data, University of Michigan’s sentiment survey was expected to show no improvement in the final print but in fact the headline reading of sentiment picked up to 62.8 from 61.7 earlier in the month (though still remains at decade lows).
UK Consumers Suffer Biggest Confidence Drop Since Start of Pandemic
British consumer confidence suffered its biggest month-on-month drop in February since the start of the coronavirus pandemic, as people worried about fast-rising inflation, higher taxes and interest rates going up, a survey showed on Friday.