Latest data released by INSEE - 31 January 2018

  • Prior m/m +0.3%
  • France CPI y/y +1.4% vs +1.2% expected
  • Prior y/y +1.2%
  • HICP m/m -0.1% vs -0.5% expected
  • HICP y/y +1.5% vs +1.1% expected
  • December PPI m/m 0.0% vs +1.4% prior; revised to +1.5%
  • December PPI y/y +1.7% vs +2.4% prior; revised to +2.6%

Solid numbers on the y/y figures for both the harmonized and the headline readings. Will only help to add to the ECB rhetoric of growing inflation.

Euro getting a tiny bounce on the numbers, EUR/USD up to session highs of 1.2460 (but mainly on dollar weakness), EUR/GBP up to 0.8771 while EUR/CHF is at 1.1603.

Join the conversation in our new Telegram group.