Show Notes
Nora Szentivanyi is joined by Raphael Brun-Aguerre and Abiel Reinhart to discuss the latest global inflation developments and the path ahead. Global inflation momentum is rebounding led by a renewed rise in consumer energy inflation and an acceleration in core goods inflation, both of which likely have further to run. While moderating service inflation has kept core inflation stable at 2.7%oya, a rotation towards firmer core goods inflation, and early signs that services disinflation may now be running out of steam, point to upside risks to the outlook, particularly if energy prices remain high for longer.
This podcast was recorded on Oct 01, 2026. This communication is provided for information purposes only. Institutional clients can view the related reports at https://www.jpmm.com/research/content/GPS-5458931-0 https://www.jpmm.com/research/content/GPS-5453331-0 https://www.jpmm.com/research/content/GPS-5469568-0 https://www.jpmm.com/research/content/GPS-5446625-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.
More from Global Data Pod
Another surge in energy prices alongside business hiring that has yet to perk up materially raises the same old question: How long can consumers keep spending without real purchasing power? As long as growth is resilient, aided by strong profits and a shift to business spending, central banks will focus on sticky elevated inflation. Next week’s Fed, ECB, and BoJ will stay on hold but single hikes to come, while the BoC starts a hiking cycle. Speakers: Bruce Kasman, Chief Economist Joseph Lupton, Co-Head Economic Research This podcast was recorded on October 23, 2026. This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. Without prior written consent from J.P. Morgan, it is prohibited to (A) use or share any material, commentary, information or other data received from J.P. Morgan or an authorized third-party ("J.P. Morgan Data") in any artificial intelligence ("AI") systems or models, or (B) use automated means, including robots, crawlers, web-scrapers or other automated tools or scripts, to access, collect, extract or harvest any J.P. Morgan Data, including scraping of user data, content, metadata, pricing information or other information.
Greg Fuzesi, Allan Monks and Raphael Brun-Aguerre discuss another week with rising sovereign bond spreads, higher energy prices and resilient growth.
A strong two quarters of growth comes with geo-divergence and some mixed signals on momentum, raising questions not about the strong past but about the future. A global rotation is projected, with the US downshifting from a boomy pace and growth in the rest of the world strengthening. Against this backdrop, both headline and underlying inflation are firming.
Greg Fuzesi, Allan Monks and Raphael Brun-Aguerre continue to discuss the region’s fiscal challenges and energy price drags on growth.
Greg Fuzesi, Allan Monks and Raphael Brun-Aguerre discuss the region’s fiscal challenges.