I=7
Core CPI rose 0.2% in December, below 0.3% estimate
Headline CPI rose 0.3% in December and 2.7% y/y, both in line with the estimates.
Core CPI rose 0.2% on the month and 2.6% on the year, below the 0.3% and 2.7% estimates, respectively.
Stock futures were little changed following the report.
The December report is seen as more convincing sign that inflation is on a downward path since October and November data were impacted by the government shutdown.
I=7
Headline CPI rose 0.2% in January, below 0.3% estimate while Core CPI came as expected at 0.3%
Headline CPI rose 0.2% in January versus expectations to stay steady at 0.3%.
On a yearly basis, headline CPI rose 2.4% y/y versus 2.5% estimate and down from 2.7% in December.
Core CPI rose 0.3%, in line with estimate but up from +0.2% in December.
Core CPI rose 2.5% y/y, in line with estimate and down from 2.6% in December.
Stock futures were little changed following the inflation report.
The increase in inflation came from higher prices for airline fares, personal care, recreation, medical care and communication while the decrease in inflation came from used cars and trucks, household furnishings and auto insurance.
I=7
CPI rose 0.3% in February, in line with estimates
CPI rose 0.3% in February, in line with estimates but up from 0.2% in January.
Core CPI rose 0.2% on the month, in line with estimates but down from 0.3% in January.
On a yearly basis, CPI rose 2.4% while core CPI rose 2.5%, both in line with estimates and unchanged from January.
Supercore services inflation, which strips out housing costs, rose 0.35% on the month versus 0.59% in January.
With the Iran conflict threatening to cause a rise in fuel costs and prices of fertilizers, the CPI report may have less influence on the fed’s decision next week.
