Inflation (but not the really exciting sort)

Daily update

Assorted provinces of the Euro empire will be releasing their flash February consumer price inflation data. There is little expectation for any drama in this data. The overall inflation picture in Europe is benign, and there is no real sense of an affordability crisis—for the most part, European policies have not added to inflation, high frequency purchases like food have modest price increases, and electricity prices are even falling (a concept US consumers may struggle to comprehend).
The US offers inflation further up the supply chain, with January producer price data. The headline figures should moderate (it seems that companies pushed through annual price increases earlier this cycle, with December rather than January the chosen month). The details that feed into the personal consumer expenditure deflator will excite economists the most.
The People’s Bank of China is making it easier for traders to sell the renminbi. The central bank would presumably prefer the private sector to sell, rather than have to intervene (aside from the politics around intervention, there is the problem of what to do with the proceeds).
The UK had a by-election that made a lot of noise and which does not matter to markets. No general election is imminent and fiscal policy is unlikely to change.