MNI BRIEF: Waller Sees Shorter Lags To Fed Policy

MNI: US Dec Existing Home Sales Drop Smaller Than Expected

MNI:Italy Coalition In Fight To Control Economy Policy-Sources

USDJPY Posts Impressive 225-Pip Range, Antipodean FX Rallies With Equities

US Treasury Auction Calendar

NBH Watch

Rpt- MNI INTERVIEW: BOC Losses May Dent Inflation Fight- Tombe

MNI BRIEF: EU Sees Statement After UK-EU Talks This Afternoon

MNI BRIEF: EC Head Aims For Gas Price Cap Deal In Coming Days

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
JGB TECHS

(H3) Extends Bounce Off Lows

USDCAD TECHS

Pierces The 50-Day EMA

US TSYS

Risk Buoyed Ahead Fed Blackout

NEW ZEALAND

Chris Hipkins Named To Succeed Jacinda Ardern As PM

AUDUSD TECHS

Remains Above Support At The 20-Day EMA

US STOCKS

Late Equity Roundup: Extend Rally Ahead Fed Blackout

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

Scotia: Above Consensus For CPI With Core Services In Driving Seat

US OUTLOOK/OPINION
HomepageBulletMarketsFixed Income NewsForeign Exchange News
  • Scotia see core CPI at 0.6% M/M (6.6% Y/Y)
  • Used vehicle prices declined a bit, but the 4% weight on the category probably means at most a 0.1 ppt drag on total CPI. New vehicle prices were very little changed with a negligible effect on total CPI.
  • Shelter costs—namely OER—will probably remain hot but with lagging downside effects of slipping repeat-sale house prices probably ahead into 2023.
  • A major driver, however, is likely to be ongoing strong gains in service price inflation. ‘Core’ services excluding shelter comprise about one-quarter of the CPI basket and have unique challenges such as staffing and capacity issues continuing to drive hot inflation.
  • Headline CPI seen at 0.8% M/M (8.1% Y/Y) with a 5% M/M SA increase in gas prices whilst food retail prices are expected to remain hot in a continuation of large gains dating back to early 2021.
145 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • Scotia see core CPI at 0.6% M/M (6.6% Y/Y)
  • Used vehicle prices declined a bit, but the 4% weight on the category probably means at most a 0.1 ppt drag on total CPI. New vehicle prices were very little changed with a negligible effect on total CPI.
  • Shelter costs—namely OER—will probably remain hot but with lagging downside effects of slipping repeat-sale house prices probably ahead into 2023.
  • A major driver, however, is likely to be ongoing strong gains in service price inflation. ‘Core’ services excluding shelter comprise about one-quarter of the CPI basket and have unique challenges such as staffing and capacity issues continuing to drive hot inflation.
  • Headline CPI seen at 0.8% M/M (8.1% Y/Y) with a 5% M/M SA increase in gas prices whilst food retail prices are expected to remain hot in a continuation of large gains dating back to early 2021.