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Thomson Reuters
May 10 - 11:00 AM
USD: US CPI: Little Market Reaction Likely To The Small Miss Vs. Expectations - CIBC
First appeared on eFXplus on May 10 - 09:00 AM

CIBC discusses its reaction to today's US CPI report for the month of April.

"Inflation was slightly tamer than expected in April, with US CPI rising 0.3% overall and only 0.1% excluding food/energy, each a tick lower than expected. The 12 month rate sits right a 2%, with core at 2.1%, the latter matching expectations (suggesting that the monthly miss was in the next decimal place)," CIBC notes. 

"Other than shelter and food away from home, inflation looks tame across the board, with this month featuring a further drop in apparel (we had expected a nomalization after a data source change caused a big drop in March) and soft used car prices...Little market reaction likely to the small miss vs. expectations," CIBC adds. 

Source:
CIBC Research/Market Commentary

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