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🔻 Switzerland Stands Out As Prices Rise Below Central Bank Target: Cable FX Macro

**As seen in Macro Walk report 08/20/23, subscribe at

  • We have had our G10 inflation monitor updated for July, the Macro Walk report shows. Looking at each central bank's preferred measure of inflation, Swiss consumer prices stand out as the only metric to be below target

  • U.S. prices follow as the second lowest in the group, this is measured by the Core PCE Deflator annual rate. The latest print showed inflation in the U.S. 1 percentage point above the Fed's target, however, the consensus forecast sees the metric accelerating by year-end to finish 2.1 percentage points above the mandate

  • Sweden has the highest inflation overshoot in the G10 at 7.3 percentage point above target, the U.K. follows. While we have seen inflation measures slowdown over prior months, more than half of the G10 has inflation accelerating above 3 percentage points above their respective central banks' objective



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