Last week, US and UK inflation data came to the fore in global markets. In the UK, consumer prices decreased by 0.6% monthly in January due to the decrease in fuel prices, while annual inflation was realized as 10.1%. While January inflation in the USA was 0.5% on a monthly basis in line with expectations, annual inflation exceeded expectations with 6.4%. The producer price index in the USA, on the other hand, increased by 0.7% in January compared to the previous month and by 6% on an annual basis. Global markets followed a mixed course throughout the week, as the higher-than-expected inflation data and the decline in unemployment claims raised concerns that the Fed would continue to raise interest rates.
Weekly Market Analysis / 27 February- 3 March 2023
