US: Core inflation to stay unchanged at 2.3% y/y – Danske Bank

US CPI inflation is due, which is getting more focus due to the tight labour market and still strong growth, according to analysts at Danske Bank. 

Key Quotes

“We expect core inflation to stay unchanged at 2.3% y/y. It is clearly above the Fed's target but note that this is based on the PCE inflation number, which is a bit lower than CPI at present. However, inflation pressure generally seems to be rising in the US, as there are bottlenecks in the labour market and companies report very strong demand growth.”

US initial jobless claims are also being released and are expected to continue to hover around record lows.”

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