Paul Donovan's Daily Audio: Beefing About Prices

UBS's Paul Donovan discusses the disconnect between slightly higher-than-expected US inflation data and the visible price increases in staples like coffee and beef that impact political sentiment. He also notes that demographic shifts are constraining European GDP growth.

Key Takeaways

• 1.US April consumer price inflation was slightly higher than expected, though largely driven by 'guesswork' in owners' equivalent rent.
• 2.Specific price increases in coffee, beef, gasoline, and vegetables since President Trump took office have high political visibility.
• 3.European GDP growth is structurally constrained by aging and declining demographics.

Table of Contents

• Audio
• Global asset class preferences definitions
• Appendix
• Risk information
• Generic investment research – Risk information

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