Economists at Societe Generale expect the US headline CPI consumer price index to soften, while core CPI to rise slightly in August.
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“The Headline CPI to fall 0.1% MoM due to the collapse of gasoline prices.
“Gasoline prices at the beginning of September continue to fall, which implies a weak general figure for September as well.”
“The headline inflation rate peaked at 9.1% in June, fell to 8.5% in July and should register 8.1% in August. We expect the headline CPI to fall below 7% by the end of the yearbut uncertainty over energy prices clouds this projection.”
“Core CPI forecast is 0.4% MoM. This forecast is based on an increase in accommodation costs of 0.6%, which is offset by weakness in the prices of clothing, motor vehicles and public transport. These latter categories have been volatile.”
“We expect auto prices to be weak in the coming quarters, but inventory readings, which remain capped by semiconductors, make monthly forecasts more uncertain.”
Source: Fx Street
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