US CPI preview

Tuesday 14 November 2023

BofA with the note.

Key takeaways

• 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.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.