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Why MNI
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.
US DATA
As we noted, while 3-month ahead pricing plans ticked higher, the % of small business owners actually raising prices fell to 42% from 43% in Dec. And the Net Compensation Plans index slipped to 22% from 27%.
- Both of those were the lowest readings since May 2021.
- But while the NFIB price expectations point to median CPI falling back to the mid-3% Y/Y range by Q4 2023, the compensation expectations remain high and point to still-high overall employment costs over that same period - see chart.
- For a Federal Reserve that is eyeing wage pressures warily as it assesses core services ex-housing price pressures in 2023, it could present an interesting dilemma if overall inflation is diminishing even as worker compensation remains elevated.
Source: NFIB, BLS, BEA, MNI
Why MNI
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.
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