Euro area CPI

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Today the focus was on the euro area Consumer Price Index (CPI) data. According to Eurostat’s preliminary estimate, the headline inflation fell slightly to 8.5% in February 2023, from 8.6% the prior month and the lowest since May 2022. However, the data was above market forecasts of 8.2%. Core inflation reached 5.6% in February 2023, a new record high and above market forecasts of 5.3%. Prices slowed for energy (13.7%), while prices for food, alcohol & tobacco increased at a faster pace (15.0%). Among the biggest economies in the Euro area, inflation in Germany (9.3%), France (7.2%), Spain (6.1) and the Netherlands (8.9%) accelerated. Market reaction was flat after the release of the data, that was a bit higher than expected.

Inflation remains well above the European Central Bank’s 2% target. Today, President Lagarde stated on a Spanish television program that interest rate hikes may need to continue after the expected half-percentage point increase at the next monetary policy meeting in two-weeks’ time.

This communication is for informational purposes only. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. All market prices, data and other information are not warranted as to completeness or accuracy and are subject to change without notice. Any comments or statements made herein do not necessarily reflect those of Aleph Finance, or its affiliates.

Aleph Finance is a trading name of UCapital Asset Management LLP.

UCapital Asset Management is authorized and regulated by the FCA – Financial Conduct Authority – with registration number 477155.
UCapital Asset Management LLP is authorized as third country firm without a branch by CONSOB with registration number 54.

Registered Company number OC333807.

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Past performance is not a guide to future returns. The value of investments and any income from them is not guaranteed and may fall as well as rise and the investor may not get back the original amount invested.

Aleph Finance is a trading name of Pairstech Capital Management LLP.
Pairstech Capital Management LLP is authorized and regulated by the FCA – Financial Conduct Authority – with registration number 477155.
Pairstech Capital Management LLP is authorized as third country firm without a branch by CONSOB with registration number 54.
Registered Company number OC333807.

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Past performance is not a guide to future returns. The value of investments and any income from them is not guaranteed and may fall as well as rise and the investor may not get back the original amount invested.

Aleph Finance is a trading name of Pairstech Capital Management LLP.
Pairstech Capital Management LLP is authorized and regulated by the FCA – Financial Conduct Authority – with registration number 477155.
Pairstech Capital Management LLP is authorized as third country firm without a branch by CONSOB with registration number 54.
Registered Company number OC333807.

For further information, please read our Legal Documents.

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