CPI for October due at 1330GMT
Via Westpac:
- Consensus on US CPI for October is 1.7%yr, 2.4%yr ex-food & energy.
- The data often impacts on markets but recall that the Fed believes this measure overstates inflation and so targets the PCE deflator.
Via Scotia:
- Wednesday's CPI could come under mild downward pressure. From 1.7% y/y in September, a combination of base effect shifts, typically soft seasonal influences during October, and gas price changes could push the year-ago rate down to around 1.5-1.6%. Core CPI is likely to belittle changed from 2.4% y/y in September but with slight downside risk.
