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TD: Energy Prices Yet To Reflect "Mayhem"

US OUTLOOK/OPINION

TD expects core prices to have eased in February to +0.5% M/M (in line with consensus, a slowdown from +0.6% in Jan).

  • On the upside, shelter prices are set to post another "robust showing".
  • In the headline categories, food prices will remain strong and gasoline prices will surge by 7% M/M (and "needless to say prices are yet to reflect the ongoing mayhem in global energy markets").
  • On the downside, used vehicle inflation is likely to moderate, with TD citing slowing in the Manheim wholesale price index.

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