Last week, inflation data in Germany and the USA were followed in global markets. The consumer price index in Germany increased by 0.4% monthly in February. Annual inflation, which was 2.9% in January, decreased to 2.5% in February, in line with expectations. On the US side, the consumer price index increased by 0.4% monthly in February. Annual inflation, which was 3.1% in January, was 3.2% in February, above expectations. The expectation was for annual inflation to be 3.1%. Core inflation, which does not include energy and food prices, was 0.4% monthly and 3.8% annually. The producer price index in the USA increased by 0.6% monthly and 1.6% annually in February, above expectations. The expectation was for a monthly increase of 0.3% and an annual increase of 1.2%. Excluding food and energy, producer prices increased by 0.3% monthly and 2% annually in February. Gold continues to be priced above $2,150 per ounce.
Weekly Market Analysis / 18 March 2024
