Free Trial

MNI BRIEF: US Core CPI Reaccelerates To 0.3% In Nov On Shelter


U.S. CPI rose 0.1% (0.097% unrounded) in November, a tad hotter than market expectations for no change, and core CPI reaccelerated to 0.3% (0.285% unrounded) from 0.2% (0.227% unrounded) a month earlier, in line with expectations, the Bureau of Labor Statistics reported Tuesday.

The data isn't likely to alter expectations for the FOMC to keep rates on hold this week and the door open to hiking again if inflation progress stalls. (See: MNI FED WATCH: On Hold Again As Rate Cut Speculation Builds)

Over the year, CPI slowed a tenth to 3.1% and core CPI was flat at 4.0%. Shelter inflation accelerated a tenth to 0.4%, representing the largest factor in the core index, and boosting the core services CPI gain to 0.5% from 0.3% a month earlier. So-called supercore CPI, or core services excluding owners' equivalent rent and rents, also ticked up two-tenths to 0.4% in November, according to an MNI calculation.

Core CPI is rising at a 3.4% annualized rate over the past three months, unchanged from October. Over the past six months, core CPI has dipped to 2.9% from 3.2% in October.

MNI Washington Bureau | +1 202-371-2121 |
MNI Washington Bureau | +1 202-371-2121 |

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.