Global  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

US: Inflation drops, but core CPI holds firm - Wells Fargo

FXstreet.com Friday, 11 January 2019
Data released today, showed that the Consumer Price Index in December dropped 0.1%. The number, according to analysts at Wells Fargo, reflects another substantial drop in gasoline prices. They explain core price inflation remained firm and consistent with the Federal Reserve’s inflation target.

*Key Quotes: *

“Led by gasoline, inflation cooled somewhat as 2018 came to a close. The headline Consumer Price Index (CPI) slipped 0.1% month-over-month in December, following a flat reading in November and marking the weakest monthly print since March. For the second consecutive month, substantially lower energy prices played a leading role in tamping down the pace of headline consumer inflation. Retail gasoline prices dropped 7.5% last month, reflecting the sharp drop in crude oil prices over the course of the fourth quarter. Crude oil prices have stabilized at the start of the year, suggesting another outsized monthly decline in retail gasoline prices is unlikely when the January report is released.”

“Despite the recent dampening influences of energy, core consumer inflation held firm in December, rising 0.2% for the third straight month.”

“Concerns about a loss in momentum of core inflation were assuaged, as core CPI inflation has increased at a 2.5% annualized pace over the past three months.”

“If the downside risks pressure core consumer inflation lower, then the Fed will take stock of its economic and policy outlook. However,* if core inflation holds firm, the Fed will continue to consider additional rate hikes this year.”*
0
shares
ShareTweetSavePostSend
 
Credit: Wochit Business - Published < > Embed
News video: Wall Street Slips

▶ Wall Street Slips 00:39

According to Reuters, technology shares pulled Wall Street lower on Monday, after an unexpected drop in China’s exports in December reignited worries of a slowdown in global economic growth. The China trade data reinforced concerns that U.S. tariffs on Chinese goods were taking a toll on the...

Recent related videos from verified sources

Wells Fargo Sees Revenue Drop [Video]Wells Fargo Sees Revenue Drop

REUTERS/Mike Blake (Reuters) - Wells Fargo & Co on Tuesday said quarterly revenue fell 5 percent, hurt by lower revenue across all of its businesses, including community banking, the unit most closely..

Credit: Wochit     Duration: 00:40Published


Recent related news from verified sources

Wells Fargo: US inflation environment continues to look benign

Wells Fargo research team suggests that the latest print of 2.2% y-o-y rate of US core inflation suggests no immediate pressure on FOMC to lift rates again soon,...
FXstreet.com

US: Durables and Philly Fed point to lower manufacturing growth - Wells Fargo

Analysts at Wells Fargo, point out that durable goods orders rose in December, as did capital goods shipments which is a plus for growth data but they warn that...
FXstreet.com

Sharp Drop In Energy Prices Keeps US CPI Flat In January; Modest Acceleration In Core Index – Analysis

The overall Consumer Price Index (CPI) was unchanged for the third consecutive month in January due to a 3.1 percent decline in energy prices. This brought the...
Eurasia Review

Euro zone core inflation edges higher in Jan

Euro zone headline consumer inflation slowed slightly in January because of a sharp deceleration of energy price growth, but core inflation watched closely by...
Reuters

You Might Like


Tweets about this


Other recent news in Markets

Cardano Price Holds its own At $0.045 As GALAXY S10 Support Rumors SpreadWhy KRAFT HEINZ Stock Just Dropped 27%
Solar Senior Capital Ltd (SUNS) Q4 2018 Earnings Conference Call TranscriptNEIL WOODFORD ENDURES TOUGH WEEK IN THE MARKET
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest