CORE INFLATION SIGNALS PEAK MAY BE PASSING
John Briggs, head of US rates strategy at Natixis North America, says the softer month-on-month core inflation reading may indicate the peak of war-driven inflation has passed. He adds this could support a more favorable inflation outlook ahead, but warns the trend depends on oil prices remaining stable and not reigniting inflationary pressure.
*Walter Bloomberg: US MAY CONSUMER PRICES RISE 0.5% M/M; EST. +0.5%
US MAY CONSUMER PRICES RISE 4.2% Y/Y; EST. +4.2%
US MAY CORE CPI RISES 0.2% M/M; EST. +0.3%
US MAY CORE CPI RISES 2.9% Y/Y; EST. +2.9%
US May CPI matched headline expectations, while core CPI was softer month-on-month than expected. Natixis strategist John Briggs said this may signal that the peak of war-driven inflation is passing, but the outlook depends on oil prices staying stable.
关键要点
US May CPI rose 0.5% month-on-month, in line with estimates.
US May CPI rose 4.2% year-on-year, in line with estimates.
Core CPI rose 0.2% month-on-month versus 0.3% expected.
Core CPI rose 2.9% year-on-year, in line with estimates.
Natixis’ John Briggs said softer core inflation may support a better inflation outlook, conditional on oil prices not reigniting inflation pressure.
