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MNI US CPI Preview: A Softer Version Of December

US

CPI for January is released on Thu at 0830ET/1330GMT.

  • Consensus is for a modest moderation after a strong December, with the median seeing core CPI at +0.5% M/M (average 0.45%) after 0.55% M/M.
  • Core inflation was previously led by surging core goods (+1.9% M/M) as core services plateaued, with both categories expected to ease this month and the latter potentially slowed by first round effects from Omicron.
  • With markets increasingly pricing in more hikes, the largest reaction could come from a downside surprise.
  • See the full report here including previews from 12 sell-side analysts.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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