Osservatorio | May 2024

At a glance:

• Slowing labour costs, more stable commodity costs and the fading effects of lockdowns point to cooling consumer prices.
• Figures for the first months of 2024 have been distorted by companies' new price adjustment policies.
• The cost-of-living temperature will remain higher than in the decade before the pandemic, when risks were skewed towards deflation.
• There are increasing signs of consolidation in the international recovery, thanks to China and the Eurozone.
• Interest rates will fall, more on the short side than on the long side.
• What are the portfolio choices and why active equity investment management is adding value again.
• Insights from the recent Ceresio Investors manager research trip to Asia.