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High Frequency Economics' chief US....>

US DATA REACT
US DATA REACT: High Frequency Economics' chief US economist Jim O'Sullivan said
Aug. CPI showed "core inflation was a bit stronger than in recent months,
consistent with recent weakness being exaggerated. The lodging -- basically
hotels -- component in particular bounced back after exaggerated weakness,
although even ex that component, the rise in core would have been 0.2%."
- He adds that the CPI "data help the case for following up the start of Fed
balance sheet normalization next week with another rate hike in December,
although there will be three more CPI reports before the December decision is
made."

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