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31 Mar 2015
Eurozone HICP might surprise to the upside – KBC
FXStreet (Barcelona) - With oil prices dropping slightly in March, the KBC Bank Research Team, comments that Eurozone HICP might surprise to the upside, with consensus looking at a -0.1%yoy print.
Key Quotes
“In February, euro zone HICP inflation picked up from its record low level of -0.6% Y/Y to -0.3% Y/Y, supported by an uptick in the oil price.”
“For March, the consensus is looking for an increase from -0.3% Y/Y to -0.1% Y/Y and we believe that the risks are for another upward surprise.”
“Although oil prices dropped slightly in March, strengthening domestic demand and the early timing of Easter will boost prices.”
“The EMU unemployment rate is expected unchanged at 11.2%, following a slight drop in the previous three months. For the unemployment rate, we see risks for a lower outcome as the labour market recovery has continued.”
Key Quotes
“In February, euro zone HICP inflation picked up from its record low level of -0.6% Y/Y to -0.3% Y/Y, supported by an uptick in the oil price.”
“For March, the consensus is looking for an increase from -0.3% Y/Y to -0.1% Y/Y and we believe that the risks are for another upward surprise.”
“Although oil prices dropped slightly in March, strengthening domestic demand and the early timing of Easter will boost prices.”
“The EMU unemployment rate is expected unchanged at 11.2%, following a slight drop in the previous three months. For the unemployment rate, we see risks for a lower outcome as the labour market recovery has continued.”