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Nowcasting Euro Area inflation

Nowcasting euro area inflation requires combining a blend of high-frequency indicators such as energy, gasoline, electricity, transport, food and lumber prices, which give insight into overall price trends.

99,7%
Accuracy
17+
Leading indicators
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Leading indicators identified with Indicio

Forecasted variable: Euro Area, HICP, All-Items, Index

IndicatorRelevance
Euro Area, Leading Indicators, Citi, Commodity Terms of Trade Index, Index★★★★
Euro Area, Gasoline, Euro-Super 95, Weighted Average, EUR★★★
Euro Area, Equity Indices, FTSEurofirst, Oil & Gas, Energy, 300 Index, Price Return, Close, EUR★★
Euro Area, ECB Consolidated Balance Sheet & Flows of MFI Sector, Eurosystem, Total Assets & Liabilities, All, EUR★
Euro Area, FX Spot Rates, EUR per USD★
Euro Area, LNG, Stock Level, Europe Total, Current Send-Out★
Euro Area, Equity Indices, FTSEurofirst, Food Producers, Food Producers, 300 Index, Price Return, Close, GBP★
World, Baltic Exchange, Shipping, Dry Index (BDI), USD★
EU, Consumer Surveys, DG ECFIN, Consumer Confidence, Balance★
Euro Area, HICP, Services (Overall Index Excluding Goods), Index★
Euro Area, LPG, LPG - Motor Fuel, EUR★
Euro Area, Commodity Indices, HWWI, Weighting Period 2020-2021, HWWI Index excluding Energy, Average of Period, EUR★
Germany, Leading Indicators, Central Bank of Germany, Weekly Activity Index (WAI), Index★
Euro Area, Commodity Indices, HWWI, Weighting Period 2012-2021, Food Index, Average of Period, EUR★
Euro Area, Commodity Indices, HWWI, Weighting Period 2020-2021, HWWI Index, Average of Period, EUR★
Euro Area, Gas Oil, Heating Gas Oil, Weighted Average, EUR★

Indicio captures the group effect of the leading indicators; the relevance ranking of each indicator changes over time.

Top indicators identified

Euro Area, Leading Indicators, Citi, Commodity Terms of Trade Index, Index

Measures the ratio of commodity export prices to import prices in the euro area. Higher values suggest improved trade conditions.

Euro Area, Gasoline, Euro-Super 95, Weighted Average, EUR

The euro area average price of standard 95-octane gasoline, weighted by consumption across countries.

Euro Area, Equity Indices, FTSEurofirst, Oil & Gas, Energy, 300 Index, Price Return, Close, EUR

Tracks the price-return performance of 300 leading European oil, gas and energy companies, in euros.

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We cover major economic indicators from GDP to PMI, with unmatched accuracy

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