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Jan 09 - 02:55 PM

USD: December CPI Inflation Preview: Another Soft Report - BofA

By eFXdata  —  Jan 09 - 01:45 PM

Bank of America Global Research provides a preview for the US December CPI print on Thursday.

"We forecast headline CPI (Consumer price index) fell by 0.1% m/m in December (0.10% m/m unrounded). This would result in the y/y rate falling from 7.1% to 6.4%, and the headline NSA (not seasonally adjusted) index would decrease to 296.751 from 297.711. Meanwhile, we look for core CPI to increase by 0.2% m/m (0.24% unrounded), and for the y/y rate to fall from 6.0% to 5.6%," BofA notes. 

"Our outlook for another soft headline print reflects a couple of factors. First, we look for energy prices to drop by 4.7% m/m in December owing to a plunge in retail gasoline prices, which were down 12.7% m/m in according to data from AAA (American Automobile Association). This should drive a decline in energy goods, while energy services are likely to be little changed on the month,"BofA adds. 

BofA Global Research


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