- 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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