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Sep 09 - 12:55 PM

USD: We Expect Headline CPI To Fall In August - BofA

By eFXdata  —  Sep 09 - 10:45 AM

Bank of America Global Research discusses its expectations for next week's (Tues) US CPI print for the month of August.

"In the August CPI report, we look for headline CPI to decline by 0.1% mom, its first decline since May 2020, and for core CPI to advance by 0.3% mom. This would leave headline and core CPI up 8.2% and 6.0% yoy, respectively," BofA notes. 

"We look for the retracement in energy prices to continue in August as we forecast a 5.2% mom decline following the 4.6% drop in July. Meanwhile, food price appreciation should only ease modestly to 0.9% mom from 1.1% previously. Elevated wages should continue to put upward pressure on food away from home inflation, and though commodity prices have declined recently, this will take time to pass through to consumer prices," BofA adds. 

Source:
BofA Global Research

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