- Consumer inflation could show signs of cooling, when November’s consumer price index is released at 8:30 a.m. ET Tuesday.
- Economists expect headline inflation rose 0.3%, or 7.3% year over year, in November, down from an annualized pace of 7.7%.
- “I think it will be another benign print. I’m pretty neutral on this report,” said Aneta Markowska, chief financial economist at Jefferies. “It feels like that risks are asymmetrically skewed toward the high side. I think if you get a higher print, I think the [stock] sell-off is disproportionately stronger.”
Consumer inflation likely cooled in November, but prices continued to rise at a still high rate, particularly for services.
Economists expect the consumer price index rose by 0.3% in November, or at an annual pace of 7.3%, according to Dow Jones. That’s down from 7.7% in October. When excluding food and energy, core CPI was expected to climb by 0.3%, or 6.1% year-over-year, compared with October’s 0.3% gain, or an annual rate of 6.3%, according to Dow Jones.