November consumer price index data
- Prior was +1.6% y/y
- CPI +0.2% m/m, as expected
- Ex-food and energy 0.2% vs +0.2% exp m/n
- Ex-food and energy 2.1% y/y vs 2.2% exp
- Real avg weekly earnings +0.5% y/y vs +0.9% prior
- CPI index 241.353 vs 241.416 prior
The CPI numbers are generally in line but that wage growth number is far from the kind of reading that will cause the Fed angst about inflation.
The Fed hike yesterday was telegraphed but what happens next is far-from certain. Feb 1 is the next FOMC meeting and Yellen didn't sound in any rush to hike. March is the next 'live' meeting and it will take some kind of pickup in inflation, wages or a jump in growth to spark another move then.
