This Week: Coca-Cola earnings, inflation and housing updates
Feb 12, 2023, 11:00 PM | Updated: 11:03 pm
A look at some of the key business events and economic indicators upcoming this week:
Coca-Cola reports results
Coca-Cola will report its latest financial results on Tuesday.
The Atlanta-based beverage company, whose brands include Dasani, Fanta and its namesake drink, has been raising prices to deal with inflation, but has seen consumers trade down to smaller package sizes or private-label competitors to cut costs. Coke rolled out value packs with smaller-size bottles in the U.S., Japan and other markets for cost-conscious shoppers.
Inflation update
The Labor Department releases its January snapshot of inflation at the consumer level Tuesday.
Inflation has been easing in recent months, raising hopes that The Federal Reserve can soon shift to a less aggressive policy on interest rates. The central bank has been raising interest rates to try and tame inflation. Economists expect that inflation continued easing in January. Consumers, though, are still feeling the squeeze on their wallets from high prices on many goods and services.
Consumer price index, annual percent change, not seasonally adjusted:
Aug. 8.3
Sept. 8.2
Oct. 7.8
Nov. 7.1
Dec. 6.5
Jan. 6.2 Est.
Source: FactSet
Housing barometer
Mortgage rates are up slightly after several weeks of declines, a possible sign of stability that could draw in home shoppers with spring buying season weeks away.
But has that spurred more would-be homebuyers to apply for a mortgage? Not consistently. The Mortgage Bankers Association’s weekly survey of mortgage applications has been mixed in recent weeks. The MBA reports its latest weekly home loan application data Wednesday.
Mortgage applications survey, weekly percent change, seasonally adjusted:
Dec. 30: -10.26
Jan. 6: 21.19
Jan. 13: 27.85
Jan. 20: 6.95
Jan. 27: -8.97
Feb. 3: 7.4
Source: FactSet
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