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November CPI flat (unrounded +0.019%) as by.>

US DATA
US DATA: November CPI flat (unrounded +0.019%) as expected by analysts, 
but well below +0.3% expected by markets, with energy prices -2.2% 
on gasoline (-4.2%). Electricity (+0.3%) and residential gas (+0.7%) 
provided some offset. Ex only energy, CPI would have been +0.2%. Food 
prices +0.2%. 
- Core CPI +0.2% (+0.209% unrounded) as expected, with the large 
owners' equivalent rents category +0.3%, medical care +0.4% and used 
vehicles +2.4%, but apparel prices -0.9% and new vehicle prices flat.
- The y/y rate for headline CPI slowed to +2.2% vs +2.5% in October, 
more than offsetting last month's increase, while the y/y rate for core 
CPI rose to +2.2% from +2.1% in October. 
- Overall, the data suggests that consumer inflation growth is 
relatively contained ahead of next week's FOMC meeting.

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