Global | Inflation and Bottlenecks. November 2022

Summary

October data points to continued moderation in both headline and core inflation in the United States, while Europe sees no respite. Meanwhile, supply bottlenecks continue to ease, more meaningfully for the US as compared to the Euro Area

Key points

• Key points:
• Indicators of synchronicity and persistence of inflation show clear moderation in the case of the US but not for Europe
• In the US, short term consumer inflation expectations rose slightly while medium and long-term inflation expectations by analysts edged higher
• Euro Area saw inflation expectations stabilize across the board
• Our supply bottlenecks indicator suggests that supply chain disruptions have ended in the US but are still elevated in the Euro Area
• Port congestion has eased, albeit unevenly across geographies

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