Wells Fargo: November US CPI Likely to Reflect Stalled Progress on Inflation Reduction
Sarah House, Managing Director and Senior Economist at Wells Fargo, along with Economic Analyst Aubrey Woessner, suggests that the November US CPI data might indicate stalled progress in combating inflation. They project the unadjusted annual CPI rate to rise slightly from 2.6% to 2.7%. Additionally, they anticipate the unadjusted core CPI annual rate will remain in the narrow range of 3.2%-3.3% for the sixth consecutive month.
While factors such as an overheating labor market continue to ease, new obstacles hindering inflation reduction have emerged, including the potential for tariff implementation and tax cuts. The November CPI report is scheduled for release next Wednesday, a week ahead of the Federal Reserve's interest rate decision. Meanwhile, the futures market is currently pricing in a 25 basis point rate cut by the Fed.
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