Inflation is modest and broadly in line with expectations. Labor costs have stabilized, but the global disinflationary trend has not changed. We maintain our view that inflation will be a non-factor in the first half of 2014, but it might increase moderately in the second half. Inflation on the producers’ level is weak, too and the PPI inflation pipeline doesn’t seem to pose any immediate inflationary threat either.
Feb
21
2014
Inflation Pressure Anemic
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