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The Harmonised Index of Consumer Prices (HICP) is an indicator of inflation and price stability for the European Central Bank (ECB). It is a consumer price index which is compiled according to a methodology that has been harmonised across EU countries. The euro area HICP is a weighted average of price indices of member states who have adopted ...
Inflation in the euro zone is falling fast and the economy has begun contracting, data showed on Tuesday, illustrating the dual impact of a steady diet of European Central Bank interest rate hikes.
The term "fan chart" was coined by the Bank of England, which has been using these charts and this term since 1997 in its "Inflation Report" [1] [2] to describe its best prevision of future inflation to the general public. Fan charts have been used extensively in finance and monetary policy, for instance to represent forecasts of inflation.
The first ECB rate cut in nearly five years takes the benchmark rate in the 20 countries that use the euro down to 3.75% from an all-time ... the ECB raised its inflation forecast for this year ...
The Consensus forecast for euro-area producer price inflation significantly outperforms the naïve forecast in the short-term. Finally, the Consensus forecast for the USD/EUR exchange rate during the period from 2002 to 2009 is more precise than the naïve forecast and the forecast implied by the forward rate." [12]
To wit, the Fed actually lowered its unemployment forecasts from 4.4% to 4.2% for the end of this year and from 4.4% to 4.3% next year. Read more: What the Fed rate cut means for bank accounts ...
Mervyn King became the first Governor to do so in April 2007, when inflation ran at 3.1% against a target 2%. [38] Since 1996 the United Kingdom has also tracked a Consumer Price Index (CPI) figure, and in December 2003 its inflation target was changed to one based on the CPI [39] normally set at 2%. [40]
The almost three dozen charts and explanations tell the story of a strong market and economy carrying momentum into 2024, despite stumbles seen very early in the year.