Economic Events: Week of January 10 to 14, 2022

Chinese inflation, which is expected to ease, offers the week’s first action with both consumer and producer prices for December on Tuesday. In contrast, consumer prices from India, to be posted Wednesday, are expected to accelerate while the week’s big report — US consumer prices on Wednesday — are expected to post another month of highly elevated results. Producer price data for December will follow on Thursday from the US and on Friday from Japan. Modest-to-moderate gains are expected for industrial production reports from the UK on Tuesday and the Eurozone on Wednesday with UK monthly GDP and merchandise trade to follow on Friday. The week’s big central bank meeting is also on Friday amid split expectations whether the Bank of Korea, which was the first to raise rates last year, will raise rates again. Friday will be a busy day in the US with December retail sales, December industrial production, and preliminary January consumer sentiment. None of these reports are expected to show much punch at all. Note that consumer prices from France on Friday will be a revision for December.

January 10, 2022
In the Eurozone, the unemployment rate is forecast at 7.2 percent in November, improving slightly from 7.3 percent in October.

In the US, the second estimate of November wholesale inventories is a build of 1.2 percent, unchanged from the first estimate.

Atlanta Federal Reserve Bank President Raphael Bostic will participate in a conversation on the economic outlook at a Rotary Club of Atlanta meeting at 1200 EST.

Retail sales in Australia are forecast to have risen 3.9 percent on the month in November following a 4.9 percent rebound in October on the back of eased Covid restrictions. Australia will also release good and services trade for November after a surplus of A$11.22 billion in October.

Inflationary pressure in China appears to be easing slightly. Consumer prices are expected to have risen 0.3 percent on the month in December for a 1.8 percent year-over-year rate, compared to increases of 0.4 and 2.3 percent in November. Producer prices are forecast have gained 11.3 percent on the year in December after rising 12.9 percent in November.

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