Tame U.S. Inflation Gives The Fed Room For More Rate Cuts
2025-12-18 11:32:00 ET
By James Knightley, Chief International Economist, US
US inflation undershoots all forecasts in November
November’s consumer price inflation report was remarkably soft given the backdrop of tariffs and concerns over insurance costs. Remember we don't get month-on-month data due to no survey being conducted in October because of the government shutdown, but we have year-on-year prints and for headline that came in at 2.7% versus 3% in September and a 3.1% consensus prediction, while core (ex food and energy) inflation was just 2.6% versus September’s 3% outcome and a consensus projection of 3%. That 2.6% outcome was 0.2pp below even the lowest forecast submitted to Bloomberg in their consensus survey....
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Tame U.S. Inflation Gives The Fed Room For More Rate Cuts
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