BofA with the note.
• For the October CPI report, we forecast headline and core CPI to increase by 0.2% m/m and 0.3% m/m, respectively.
• Headline inflation should be softer because of gas prices. While core services will remain the main driver of core inflation.
• We expect headline inflation to fall three-tenths to 3.4% y/y and for the headline NSA index to print at 308.062.