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HFE chief US economist Jim............>

US DATA REACT: HFE chief US economist Jim O'Sullivan said on Nov. CPI that "in
short, headline" 0.4% "inflation was boosted by a large gain in gasoline, but
core" at 0.1% "was quite tame. The weak core reading follows a relatively strong
figure for Oct, and the net of the last few months is still up from a few months
ago, but the report will keep alive the debate over how much upward pressure on
inflation is likely from the tight and tightening labor market."
- He adds "the latest three-month change for core is 1.9% at an annual rate,
marginally higher than the 1.7% 12-month-change reading. The report is certainly
not weak enough to stop the Fed from tightening today, but it could result in
the tone of the statement being slightly less hawkish than it would have been
with a consensus-like reading."