According to ANZ analysts, the November Core CPI of the US economy has likely maintained its pace of 0.2% MoM from October, but headline inflation should ease to 0.2% m/m last month (0.4% MoM in October) amid softer commodity prices.
Key Quotes
“There is some risk core inflation could surprise to the upside in November, as surprising weakness in shelter prices is unwound.”
“The outlook for inflation is mixed. Ongoing tightness in the labour market is putting upward pressure on wages, but elevated uncertainty about the global outlook is making firms circumspect about raising wages and prices.”
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