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Friday, January 12, 2018

US December CPI 0.1% m/m vs +0.1% m/m expected


  • Prior was +0.4%
  • CPI y/y +2.1% vs 2.1% exp
  • Prior 2.2%
  • Ex food and energy 1.8% y/y vs 1.7% exp
  • Prior ex food and energy 1.7%
  • Ex food and energy +0.3% m/m vs +0.2% exp
  • Real average weekly earnings +0.7% y/y vs +0.8% prior 
  • Real avg hourly earnings y/y +0.4% vs +0.2% prior 
The numbers on the surface area showing a pick up in the ex food and energy (core inflation data). The MoM and YoY ex food and energy are 0.1% greater than the expectations.  Better news there but still core below the 2% level.  .  The bad is the real weekly earning YoY are still very low at 0.7% although hourly earnings moved higher to 0.4% from 0.2%, they are still low.




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