US: Expect a strong rebound of 0.3% in core CPI - Nomura
|Analysts at Nomura expect a strong rebound of 0.3% (0.271%) m-o-m in core CPI in December (Consensus: 0.2%) following a disappointing reading of 0.117% in the previous month.
Key Quotes
“November’s core CPI reading was partially dragged down by an unusually large decline in apparel prices, which we expect to revert in December. Moreover, physicians’ services prices will also likely increase notably in December after an outsized decline in November. The strong m-o-m increase in December’s core CPI will likely push up the yo-y rate to 1.8% (1.759%) in December (Consensus: 1.7%), from 1.7% in November. For noncore components, food prices likely increased at a trend-like pace while we expect a decline in energy prices.”
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