US January 2024 Inflation Preview: 0.2% Print Could See Limited Dollar Fall
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Today sees the release of the US CPI Inflation data for January 2024, with predictions from various market analysts. Lloyds Bank forecasts a 0.3% monthly increase in both headline and core CPI, reducing annual rates to 3.0% and 3.8%. SEB expects a potential decrease in January's UK CPI due to dropping used car prices, with core CPI growth at 0.3% monthly. CIBC anticipates that US inflation data won't deter the Fed's easing plans and expects 100 bps cuts in late 2024. ANZ predicts core CPI to decrease to 0.2% m/m in January. Barclays forecasts January core CPI to remain elevated with a 0.3% m/m gain. Credit Agricole predicts a slight decrease in January's US CPI, with headline CPI expected at 0.2% MoM and core CPI maintaining a 0.3% MoM increase. ING forecasts a 0.3% month-on-month core US inflation rate, with risks leaning towards a 0.2% print. The article also includes exchange rate forecasts and other related information.
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