The November 2024 CPI expectations continue to show stickeness in both measures.
December 2024 CPI is not expected to see much progress either.
The recent acceleration in wages (answer here before an overview of the importance of wages, however more in-depth research is needed), rising food prices, and renewed increases in auto prices continue to pose upside risks to inflation.
However, other key components, including home prices (CPI will continue to lag these developments) have remained stable or even declined this month.
Table
Before the CPI release, rate cut expectations remained modest, with certainty that next week we will have another 25bps cut
