Alternative data analytics firm QuantCube Technology has launched QuantCube CPI Nowcast indicators for the UK, Eurozone and Tokyo, which quantify the Consumer Price Index (CPI) in each economy in real time.
Ina statement, QuantCube said the new indicators give traders and investors “crucial insights on inflationary trends weeks ahead of official CPI numbers which are published monthly with a time lag.”
QuantCube is providing both headline and core CPI data for each market, adding to the family of CPI indicators it already provides for France, Germany, the US, China and Brazil, all of which are available on its Macroeconomic Intelligence Platform (MIP).
By isolating and tracking different elements of inflation, including food and energy prices, QuantCube enables users to strip out these more volatile components in order to view the underlying inflationary trends in each economy as well as variations year-on-year and month-on-month.
To assess early shifts in inflationary trends in Japan, QuantCube tracks the Tokyo Consumer Price Index and its components on a daily basis. This index is not only considered an advanced indicator for the broader inflation trends in the country, but also exhibits a high (97%) correlation with the overall CPI for Japan.
For the Eurozone CPI, QuantCube is using the same weighting methodology employed by Eurostat to compile and harmonise the data. This differs slightly to the methodology used by individual countries, such as France and Germany, and is intended for investors and policymakers seeking an early indicator of the direction of inflation across the Eurozone.
