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US DATA: Core Goods Pickup Notable Ahead Of Potential Tariffs

US DATA
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That's a 19-month high print for core goods inflation, with the category in positive territory in November for the 3rd consecutive month (after sequential deflation in 14 of the previous 15 months). And it comes even ahead of potential tariffs next year.

  • Within those core goods categories, used car inflation softened only slightly less than expected (to 1.99% M/M vs 2.72% prior, and 1.05% expected).
  • Apparel (+0.2% vs -1.5% prior) and new vehicles (0.6% vs 0.0% prior) both rebounded from unexpectedly soft Octobers, perhaps a little more than some had expected.
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That's a 19-month high print for core goods inflation, with the category in positive territory in November for the 3rd consecutive month (after sequential deflation in 14 of the previous 15 months). And it comes even ahead of potential tariffs next year.

  • Within those core goods categories, used car inflation softened only slightly less than expected (to 1.99% M/M vs 2.72% prior, and 1.05% expected).
  • Apparel (+0.2% vs -1.5% prior) and new vehicles (0.6% vs 0.0% prior) both rebounded from unexpectedly soft Octobers, perhaps a little more than some had expected.