US CPI Preview: October 2023
Annual headline CPI growth expected to fall materially, but the core CPI could deliver an upside surprise
Headline CPI growth expected to fall to 3.3% YoY
With a relatively large prior comparable being cycled out of the YoY equation, and with a significant decline in regular gasoline prices (-5.6% MoM) putting downward pressure on monthly CPI growth, I expect the headline CPI’s annual growth rate to moderate to 3.3% in October, down from 3.7% in September. M…