![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_IhVTXppJVylszMaSKMiLfeGA4l96qPwbaJBuinSgkER4PE6tQeo8fdMHBaquxA3-c6uPK0crmmXniGYBGasrbg_d6suxrGZKBry73URz9NwYP_uyOUG9KdEST2QzGVIPGD5xzbxLGQ/s400/2018-12-12-1.PNG)
Things continue to move sideways, not providing a strong new signal in either direction. The next two months will be interesting, because core CPI excluding shelter last December and January totaled about 0.6% (not annualized). Unless there is a similar statistical jump this year, by the end of January, core CPI will be back under 2% and core CPI excluding shelter will be back down close to 1.0%. Potentially that could affect sentiment about future rate hikes.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgOYVqEzc-bH89gTllvJuvcEWFFpdRmgLNUbb3X7unvTt8IyagmBAJ0k_CBiCNkg4nAEg3IzwTEM8IicOIpWoTCNznQ-Hk0FKLIKOFTLKjZs2CbvBYyiqMNGwkJetQ6arG2kdvIqcwM9A/s400/2018-12-12-2.PNG)
For now, core CPI is 2.2%, Shelter CPI is 3.2%, and core CPI excluding Shelter is 1.5%.
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