Analysts at TDS are looking for the US CPI to firm to 2.8% y/y in May on the surge in energy prices, with the headline index up 0.3% m/m (market: 2.7% y/y, 0.2% m/m).
Key Quotes
“Core inflation should see a more modest pickup to 2.2% y/y, in line with consensus, as a moderation in OER offsets strength in core goods prices. This would be consistent with a 0.2% m/m increase in core CPI after the soft 0.1% print in April.”
“NFIB Small Business Optimism for May is the only other release and the market looks for a modest increase to 105.0.”
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