Siddy holds a Master’s degree in Economics from the University of Antwerp and a Master's degree in Financial Management from the Vlerick Business School. Passionate by innovation and entrepreneurship, he also participated to an Executive Master in Venture Capital at the Berkeley Haas School of Business. Prior to joining Econopolis, he managed the Investor Relations & Treasury office at Orange Belgium, a telecom company. Siddy also held the position of Telecom, Media & Technology analyst at a large Belgian Asset Management firm. Further, he is also active in the advisory board of StartupVillage and The Beacon, a business and innovation hub in the center of Antwerp focused on Internet of Things and Artificial Intelligence in the domains of industry, logistics and smart city. At Econopolis, he is Portfolio Manager of the Econopolis Exponential Technologies Fund.
#MacroFriday: US Inflation Data From September
This week, the U.S. inflation data for September was released, showing that headline inflation slowed to 2.4% year-on-year, down from 2.5% in August. The small deceleration was driven by a decline in gasoline prices and a moderation in housing costs. However, core inflation—which excludes the volatile food and energy categories—ticked up slightly to 3.3%, from 3.2% the previous month. Although the increase is modest, it marks the first acceleration in core CPI since a brief uptick in April 2023. While overall inflation trends show some moderation, a deeper look into the data reveals diverging trends between goods and services inflation.
Goods inflation has entered negative territory, indicating that overall prices for goods have become cheaper compared to a year ago, largely due to the reversal of price hikes seen during the pandemic. Goods inflation is now hovering around its lowest level since June 2020. Notably, items such as household furnishings and supplies, motor vehicles and parts, recreational commodities, as well as education and communication commodities, have seen price declines. On the other hand, prices for apparel, medical care commodities, and alcoholic beverages have risen. Meanwhile, services inflation remains elevated, well above its 25-year average of 3.1%. The positive news is that services inflation continues to trend downward, with shelter inflation dropping below the 5% threshold for the first time in a long period. However, other categories, including water, sewer, and trash collection services, along with transportation services, continue to show higher inflation levels.
The Fed’s mandate is to ensure price stability and maximum employment. In the latest inflation figures, there’s something for both doves and hawks with headline inflation showing signs of cooling, while core inflation remains elevated. The next key signal for the Fed’s path forward will likely come from the job market data.
About the author
Siddy Jobe
comments powered by Disqus