Highlights of the November CPI report:
- Prior was +1.0% y/y
- CPI ex food and energy 1.7% vs 1.7% exp
- Prior ex food and energy +1.7% y/y
In month-over-month terms:
- CPI 0.0% vs +0.1% exp
- Prior was -0.1%
- Ex food and energy +0.2% vs +0.1% exp
The main headline is a touch soft and that might just be enough to tip the balance away from a taper with the two-day meeting beginning. Inflation is low and with resources prices declining, disinflationary pressures continue to build.
US CPI y/y
