PMIs point to marked easing of goods price pressures

Policymakers will have breathed a small sigh of relief at the latest manufacturing PMI surveys because they contained lots of signals that global goods price inflation will ease later this year. Demand softened, backlogs cleared, delivery times improved, inventories rebuilt, and shortages were reportedly their least severe since the start of 2021. However, the flip side is that global industrial activity is stalling. Drop-In (Weds, 6^th July): How far has 2022’s food supply shock raised the stakes for monetary policymakers and governments? Join this 20-minute session to find out about the market outlook and the economic risks around elevated food prices. Register now.