Though the U.S. Retails sales disappointed on Wednesday, the University of Michigan’s Preliminary Consumer Sentiment index did not. For the month of December 2014, it came at 98.2 compared to the expectations of 94.2 and prior month’s reading of 93.6. Same with UoM’s Inflations Expectation reading. It was 2.4%, though it declined from previous month’s expectations…
The U.S. December CPI report came on the softer side. Here are the highlights: Month-over-Month Headline CPI Headline CPI m/m came at -0.4% versus -0.3% expected Gasoline index declined by -9.4% and food index rose by +0.3% so did the index for natural gas and electricity Month-over-Month Core CPI (excluding food and energy) The m/m…
Yesterday SNB announced removal of floor for EUR/CHF. Today’s retails sales are not helping the situation. The inflation adjusted retail sales fell -1.2% on year-over-year basis for the month of December 2014. Here is the graph and the downward trend is unmistakable. The ogre of deflation is becoming more menacing.
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