The CPI report isn’t what it used to be but there are risks

The October US CPI report is due at the bottom of the hour and eyes are mostly fixed on core CPI. The consensus is +0.3%, the same as in September.

But more seriously, here is a WSJ graphic showing detailed CPI forecasts and it’s a good guide to the unrounded reading.

The thing is, no one is overly concerned about inflation right now. Yesterday, the Fed’s Kashkari said there as a chance that a pair of really hot CPI reports could lead to a December pause but beyond that, the market likely gives this a nod and gets back to election and China trades.

Aside from core, keep an eye on the headline and real weekly earnings.

This article was written by Adam Button at www.forexlive.com.