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- Deutsche Bank economists suspect Wednesday's Jan CPI should be similar to December 2020's read with "seasonally-adjusted gas prices elevating the headline (+0.26% forecast vs. +0.37% previously) print over a relatively muted core (+0.05% vs. +0.09%) reading. Apparel (on the upside) and health insurance (on the downside) were the major outliers in the December data at +1.4% and -1.1% m/m, respectively. We anticipate prices to remain relatively steady in the former, though post-holiday markdowns could present some downside risks from this category."