Inflation, retail sales, unemployment: 7 charts to understand the health of retail in Europe and the U.S.A.

On both sides of the Atlantic, the dynamics of the retail market are very different. Every month, mind Retail analyzes the macroeconomic indicators of the retail market, based on the latest data from Eurostat and the Census Bureau. In the USA and Europe, how is inflation evolving (December 23 data) and what is its impact on retail (November 23 data)? How is the employment market developing? Updated on 29 January 2024.

Through Rudy Degardin, Sophie Baqué. Published on 02 January 2024 à 20h08 - Update on 03 April 2024 à 16h17

For almost two years now, inflation has taken hold on both sides of the Atlantic. While peaks were reached in June 2022 in the U.S.A. and September 2022 in Europe, the level remains high. To measure inflation, mind Retail uses the HICP (Harmonized Index of Consumer Prices) published by Eurostat, which covers products and services consumed by households (annual change). Until now, the inflation curve in Europe has followed that of the U.S.A., with a four months’ difference.

In December 2023, the Eurozone recorded an HICP rise of 2.9%, which rose again in one month, surprising the markets. A year earlier, it was at 9.2%. The biggest contributions came from services (+1.7 point), followed by food, alcohol & tobacco (+1.2 point) and industrial goods excluding energy (+0.7 point).

Eurozone : Energy prices up by 14.3% over two sliding years

Looking at this overall picture,…