In view of analysts at National Bank of Canada, in the US, the release of December’s CPI data will be watched closely.
Key Quotes
“Gasoline prices rose at a steeper rate than usual in the month, a development that could translate into a 0.3% monthly increase of the headline index. This would allow the annual rate of inflation to rise three ticks to 2.4%. The core inflation rate, for its part, should have continued to be supported by the services sector, rising 0.2% m/m and 2.4% y/y.”
“We’ll also get December’s U.S. retail sales report. Remember that, since Thanksgiving occurred late last year, the increasingly popular Cyber Monday sale event was pushed into December. This should have helped boost consumer outlays in the final month of the year. We expect both headline and ex-auto sale to have mustered healthy gains.”
“Finally, the Fed will issue the latest edition of its Beige Book.”
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