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TD Previews US CPI Report Due Wednesday

Preview of US CPI data due Wednesday.

  • overall headline likely +0.3% m/m despite another notable rise in energy prices
  • Core inflation is expected to slow to a “soft” pace of 0.3% m/m after posting a third consecutive strong gain to 0.4% in March
  • unrounded core CPI forecast at 0.27% m/m suggests greater risks for a dovish surprise up to a rounded increase of 0.2%

Retail sales also:

  • expect retail sales to rise for a third straight month in April, opening the second quarter on solid footing
  • Volatile auto and gas station sales likely to drive growth
  • the control group also contributes to headlines, although down from March
  • sales in bars/restaurants, the only services component of the report, should remain firm

***

Earlier:

  • Bank of America’s headline CPI forecast for April is 0.33% month-on-month and 3.4% year-over-year

This article was written by Eamonn Sheridan at www.forexlive.com.

cnbctv18-forexlive

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