TD Research discusses its preview to this Wednesday's US inflation print for the month of October.
"Core prices likely slowed modestly in Oct, but to a still strong 0.4% m/m pace. Shelter inflation likely remained the key wildcard, though we look for used vehicle prices to retreat sharply. Importantly, gas prices likely shifted from offering relief to the CPI in recent months to contributing to it in Oct," TD notes.
"All told, our m/m forecasts imply 7.9%/6.5% y/y for total/core prices," TD adds.