US: Broader inflation pressures are easing – RBC – by MSalordFX UnitedStates Inflation CPI Banks
slowed to 7.1.% y/y from 7.7%. Analysts at RBC Capital Markets see the Federal Reserve raising the Fed Funds rate by 50 basis points on Wednesday and the tey pon out the more encouraging inflation signs make a pause in early 2023 more likely.“November’s U.S. inflation report brought more green shoots that broader inflation pressures are easing. The headline CPI rate slowed to 7.1% from 7.7% year-over-year in October as price pressure for all major categories slowed.
“Needless to say, despite green shoots in the near-term, price growth has further to fall before reaching the Fed’s 2% target. And consumer demand has been more resilient, adding some tailwinds to inflation trends. Still, higher interest rates will cut into household purchasing power in the year ahead and we look for inflation to continue to creep broadly lower.
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