US: Disappointing core CPI data – Nordea Markets

Anders Svendsen, Research Analyst at Nordea Markets, explains that today was the second consecutive disappointment to US core CPI, which again came from core goods prices, while core services are still showing momentum.

Key Quotes

“Key numbers from the US CPI report for September:

  • US core CPI increased 0.1% m/m (Nordea: 0.2% m/m, consensus: 0.2% m/m, last: 0.1% m/m), keeping core CPI inflation unchanged at 2.2% y/y.
  • US CPI also increased 0.1% m/m, taking headline inflation down to 2.3% y/y in September from 2.7% in August.
  • Details showed that apparel rebounded after a big drop last month, while the price index for used cars and trucks pulled core goods prices down. Medicare services prices also rebounded from last month’s fall.”

“US core CPI is losing momentum with both 3m/3m and 6m/6m back below 2% in annualised terms.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.