“Bumpy” or “Sticky”? Inflation Dynamics for the Eurozone and US

“Bumpy” or “Sticky”? Inflation Dynamics for the Eurozone and US

By Lāsma Kokina, Nato Balavadze and Brunello Rosa

22 May 2024

In this paper we discuss:

• EZ’s recent inflation dynamics and why future dynamics suggests “bumpy” more than “sticky” inflation ahead;
• Why the ECB is likely to cut rates three times in 2024;
• Recent and future US inflation dynamics and why US inflation looks “sticky”; and
• Why we believe the Fed is still on course to cut rates in 2024.

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