Charting the global economy: Inflation ebbs in US, France, Spain
Inflation cooled in the US as well as several European countries in recent readings, offering encouraging signs that central banks in the regions can lower interest rates.
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The Federal Reserve’s preferred measure of underlying US inflation increased 0.1% in May, the smallest advance in six months. Consumer prices in France — the euro area’s second-largest economy — slowed a bit in June, while inflation retreated in Spain as well.
It was a different story in Asia, where inflation quickened in Tokyo — a leading indicator of the national data to be released in July — as well as in Australia, which may prompt those policymakers to raise rates.
Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy, markets and geopolitics:
US
The so-called core personal consumption expenditures price index, which strips out volatile food and energy items, increased 0.1% from the prior month. That marked the smallest advance in six months. Inflation-adjusted consumer spending posted a solid advance after a pullback in April, driven by goods and fueled in part by a jump in incomes.
The inventory of new US homes stands at the highest since the bursting of the housing bubble more than a decade ago, raising the risk that builders will dial back production in a market longing for cheaper borrowing costs. Nearly 100,000 of those have
