Inflation held nearly steady in November, as cost declines for gasoline and long-lasting goods mostly offset price increases for housing, transportation and some other services.

The consumer-price index rose 3.1% in November from a year earlier, a slight slowdown from 3.2% in October, the Labor Department said Tuesday. Prices were up 0.1% from the prior month after holding steady in October.

Core prices, which strip out volatile food and energy components, rose 4% in November from a year earlier, the same as October. On a monthly basis, core prices rose 0.3%, faster than would be consistent with the Federal Reserve’s long-term inflation target of 2%.

(Continue Reading - WSJ)

A monthly poll of financial market experts offered more optimism about the health of Europe’s largest economy with an improvement in the outlook measure countering analysts’ expectations of a slight decline.

Germany’s ZEW economic thinktank said Tuesday that its December expectations reading for the coming six months rose to 12.8 points to beat the market forecast of 9.5 and last month’s result of 9.8.

The current conditions measure improved for a second straight month with a rise to -77.1, which fell short of the estimate of -76.0 but exceeded last month’s reading of -79.8.

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Switzerland’s central bank is widely expected to leave its benchmark interest rates unchanged Thursday amid the slowing pace of consumer price growth in the Alpine nation.

An economists’ poll predicted the bank will hold its key policy rate at 1.75%.

Flagging consumer price growth in Switzerland sparked an unexpected rate hold in September and has likely ended the tightening cycle at the Swiss National Bank. “The lower-than-expected Swiss inflation in November both shut the door on the idea of further rate hikes and opened the door to rate cuts,” wrote analyst Adrian Prettejohn, at Capital Economics.

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A moderating economy in tandem with tighter financial conditions should lay to rest any prospect of a December hike. Nonetheless, Wednesday’s decision is unlikely to see policymakers signal a more dovish stance just yet, say experts.

The Federal Open Market Committee (FOMC) is widely expected to keep the benchmark interest rate within its range of 5.25% -5.50%. With attention focused on the ensuing press conference, several analysts put the likelihood of any material change in the opening statement and language at a minimum. (LiveSquawk - Continue Reading)

The latest UK wages and jobs data came out this morning. All in all, it didn’t really do a huge amount to move the needle when it comes to the market’s view of the UK jobs market.

On the one hand, wage growth was weaker than analysts surveyed by Bloomberg had collectively estimated, and down from 7.8% the month before. Annual pay growth for the quarter through October came in at 7.3% (versus expectations for 7.4%), or 7.2% when you include bonuses (7.7% was expected).

(Continue Reading - BBG)