2:30 PM ยท 12 December 2023

BREAKING: US CPI in line with expectations; US100 above local highs ๐Ÿ“ˆ

 - US, US CPI data for November.

  • CPI inflation (YoY). Actual: 3,1% y/y. Expected: 3.1% y/y. Earlier: 3.2% y/y. 
  • Core inflation (YoY). Actual: 4,0% y/y. Expected: 4% y/y. Earlier: 4% y/y.
  • CPI inflation (MoM). Actual: 0,1% m/m. Expected: 0% m/m. Earlier: 0% m/m.
  • Core CPI inflation (MoM). Actual: 0,3% m/m. Expected: 0.3% m/m. Earlier: 0.2% m/m.
  • Dollar softer after publication, 2024 cuts priced in up to 117 from 115 bps.
  • Futures contracts tied to Fed policy rate price in March 2024 start to Fed rate cuts.
  • It seems that shelter (+6.0% y/y) and motor vehicle insurance (+19.2%) are the only real sources of worrisome upward pressure in prices left.

Annual inflation is falling as expected, although monthly inflation is nevertheless rising marginally. Source: Bloomberg Finance LP, XTB

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