JP Morgan projects US inflation to gradually return to Fed target rate

October 11, 2024 at 12:53AM
The US inflation data released Thursday was higher than expected:;

US September CPI 2.4% y/y versus 2.3% expected

Forexlive Americas FX news wrap: US CPI higher than expected

JP Morgan says watch the PPI report (due Friday) as it could also impact the core PCE inflating data (due late in October).

JPM says the inflation figures are “broadly consistent” with inflation gradually falling back to the Fed 2% target rate. JPM maintains its forecast for a 25bp rate cut from the Federal Open Market Committee (FOMC) in November.

***

US PPI data is due Friday, October 11, 2024 at 8.30 am US Eastern time:

This snapshot from the ForexLive economic data calendar, access it here.

The times in the left-most column are GMT.

The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.

This article was written by Eamonn Sheridan at www.forexlive.com.