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US OUTLOOK/OPINION: Core CPI Seen At Another 0.28% In Nov, But Softer Core PCE

US OUTLOOK/OPINION
USBulletMarketsFixed Income BulletsForeign Exchange BulletsNorth America
  • We currently see analyst unrounded estimates looking for core CPI inflation of 0.28% M/M in November for the same pace as in October.
  • Headline CPI inflation is seen at a similar rate of 0.27% M/M in Nov after 0.24% M/M in Oct (i.e. a milder acceleration than a rounded 0.3 after 0.2 would suggest).  
  • Note that whilst core CPI inflation is expected to continue at the same pace in November, early tracking for core PCE points to a moderation to ~0.22% M/M after the 0.27% M/M in October (Nov released Dec 20).
  • The full MNI US CPI Preview will be published later today ahead of Wednesday's release.  
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  • We currently see analyst unrounded estimates looking for core CPI inflation of 0.28% M/M in November for the same pace as in October.
  • Headline CPI inflation is seen at a similar rate of 0.27% M/M in Nov after 0.24% M/M in Oct (i.e. a milder acceleration than a rounded 0.3 after 0.2 would suggest).  
  • Note that whilst core CPI inflation is expected to continue at the same pace in November, early tracking for core PCE points to a moderation to ~0.22% M/M after the 0.27% M/M in October (Nov released Dec 20).
  • The full MNI US CPI Preview will be published later today ahead of Wednesday's release.