US CPI: Expect a monthly increase of 0.4% - Lloyds Bank
|Annual ‘headline’ US CPI inflation slipped back to 2.0% in October reflecting a modestly lower oil price, but annual ‘core’ inflation picked up modestly to 1.8%, points out the research team at Lloyds Bank.
Key Quotes
“The sharp rise in the oil price during the month, along with higher food prices looks likely to have led to a big rise in the ‘headline’ reading for November. We expect a monthly increase of 0.4% taking the annual rate to 2.0%. ‘Core’ inflation should be more stable. We forecast it to hold steady at 1.8%. Nevertheless, as economic growth remains above trend and the amount of slack in the economy is diminishing we expect it to pick up next year.”
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