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Core CPI: Nomura Sees +0.42%; Citi +0.3%

US OUTLOOK/OPINION

Rounding up some other sell-side CPI Views:

  • Nomura expects a well-above-consensus unrounded core print of +0.420% M/M in today's inflation report. "Economic reopening likely continued to push up prices for COVID-sensitive services, and a limited supply of vehicles appeared to exert upward pressure on vehicle prices during the month. Moreover, rent inflation appeared to have bottomed, although we do not expect any material acceleration in April."
  • Citi sees "another month of a strong 0.30% increase in core CPI in April, with risks of a print that rounds to 0.4%. Strength should again be tied to components such as used cars, hotels, and transportation services prices, but with prices still firming in key components like rents."

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