The Scotiabank analysts offer a sneak peek into what to expect from Thursday’s US August Consumer Price Index (CPI) report, slated for release at 1230 GMT.
Key Quotes:
“Forecast is for headline CPI unchanged at 1.8%.
Core CPI forecast up to 2.3% y/y.
Since the Fed’s preferred core PCE gauge (1.6% y/y in July) tends to undershoot core CPI fairly steadily by several tenths of a percentage point over time, the Fed’s efforts to achieve the symmetrical 2% inflation target will be minimally affected.”
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