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Breakfast Bites - US CPI not likely to disappoint
UK wage growth cools; Consumer sentiment higher; CPI cooler in India and Brazil; China's conference brings positive remarks;
Ayesha Tariq
December 12, 2023
Rise and shine everyone.
It’s a big day with the last US CPI release for the year at 8:30 am ET. Today we get November numbers and this will likely be the last important data point for the Fed to consider as they begin their 2-day meeting today. We’ve got the previews from some of the major banks:
Goldman is the only one here that expects core CPI to come in below 4% YoY. All eyes will be on the core number this time around, as the headline is more or less in the bag. With gasoline prices declining quite significantly over the past couple of months, the reading on energy inflation should come in deflationary. As a reminder, Energy came in at -2.5% MoM and -4.5% YoY for October.
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