EPISODE · Feb 18, 2024 · 14 MIN
Another sign of a bumpy path for inflation
from NAB Morning Call
Monday19th February 2024NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABThere was some dismissing of the US CPI numbers last week as not being the Fed’s preferred measure of inflation. But the producer prices on Friday, which do input into the Fed’s preferred Core PCE number, also showed prices ticking higher in January. Evidence of the bumpy path that the Fed’s Michael Barr was talking about on Thursday, perhaps? But NAB’s Taylor Nugent says, as with the CPI numbers, seasonally adjusting January’s numbers is notoriously difficult. In any case, we won’t see further market reaction in the US today because its Presidents Day holiday. So, a quiet start to a week which includes the latest flash PMIs and Australia’s wage price index. Hosted on Acast. See acast.com/privacy for more information.
What this episode covers
Monday19th February 2024NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABThere was some dismissing of the US CPI numbers last week as not being the Fed’s preferred measure of inflation. But the producer prices on Friday, which do input into the Fed’s preferred Core PCE number, also showed prices ticking higher in January. Evidence of the bumpy path that the Fed’s Michael Barr was talking about on Thursday, perhaps? But NAB’s Taylor Nugent says, as with the CPI numbers, seasonally adjusting January’s numbers is notoriously difficult. In any case, we won’t see further market reaction in the US today because its Presidents Day holiday. So, a quiet start to a week which includes the latest flash PMIs and Australia’s wage price index. Hosted on Acast. See acast.com/privacy for more information.
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Another sign of a bumpy path for inflation
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