Analysts at TD Securities are looking for the US headline CPI to slow two tenths to 1.8% in May on the back of a mild 0.1% seasonally-adjusted monthly increase.
Key Quotes
“The softer monthly increase is largely the result of the normalization in energy prices, which were a major driver to the upside in recent months. We anticipate food prices to remain largely subdued in May, but flag an upside risk.”
“Core inflation, on the other hand, should remain steady at 2.1% y/y, reflecting a firm 0.2% m/m advance. Although we pencil in a softer 0.2% m/m increase in core services, we expect a long-delayed rebound in core goods at 0.2%.”
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