February CPI preview: expecting additional YoY deceleration, but the MoM number risks further unnerving markets

While bank failures continue to garner the lion’s share of headlines, the next US CPI report is around the corner.

For the seventh straight month, I expect the headline CPI to record further deceleration in its YoY growth rate, falling to 6.0% (from 6.4% in January). This is in-line with the consensus forecast, which is also at 6.0%.

Moving to the core CP…