US: CPI inflation likely edged higher to 1.7% y/y in November - Rabobank

Piotr Matys, EM FX Strategist at Rabobank, suggests that in the US, CPI inflation likely edged higher to 1.7% y/y in November from 1.6% y/y in October according to market consensus.

Key Quotes

“Excluding food and energy, however, inflation is expected to accelerate from 2.1% y/y to 2.2%.”

“Surveys of economic activity are anticipated to show a gradual improvement with the Philly Fed index rising to 9.3 in December from 7.6 in November and Empire State Survey recovering further from 1.5 in November to 4.0 in December.”