Economics week ahead

Wells Fargo Research Team Wells Fargo

Next week, attention turns to Tuesday’s CPI report, with no year-over-year readings available because of last October’s shutdown-related data gap. We expect headline and core inflation to clock 0.28% and 0.21% month-over-month, respectively. Softer core inflation would offer some relief after September’s upside surprise but should still leave our call for a December rate hike intact. Housing remains under pressure, with existing home sales expected to fall 5.0% in October.

Abroad, UK Q3 GDP should post another firm reading, supported by business investment and AI-related spending. Inflation takes center stage in emerging markets, with prices expected to accelerate in Mexico, Brazil, and India. Persistent pressures should favor holds from Banxico and Brazil, while we have brought forward our expected Reserve Bank of India hike to December.

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Wells Fargo Research Team

Wells Fargo

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