❗️G10 Headline Inflation Tracker

• Graph1: Actual inflation (square), Actual-Central Bank Inflation Target (bar)

• Table1: Inflation releases seen this week (August figures next!)

• U.K. headline prices tick double digits, it is now 7.4pp above the BoE's target, Eurozone prices follow at 6.9pp above the ECB's target. Fed's preferred measure of inflation is 4.8pp above target

• Japan's July headline and core inflation readings came in line with estimates and above the BoJ's target of 2%. However, as it is seen in graph 1, this is relatively small when compared to the rest of the G10 overshoots

• As of July, U.S. and Canadian prices eased from multi-decade highs, headline inflation now prints at 7.6% Y/y in Canada vs prev. 8.1%. U.S. PCE is seen in the docket next week.