Written by Moneypig Trading
Even though we cannot forecast the CPI number accurately, we see numerous signs of inflation cooling down:
(1) Dow Jones Commodity Price Index YoY growth is slowing down, and YoY growth will be negative starting Feb or March 2023
(2) Used car price index continues to drop. YoY -12.77%
(3) Rent growth continues to be in the downtrend
No one has published Jan 2023 monthly average rent data, but the down trend has been there since March 2022
(4) However, wage growth is slightly up
02/03/2023 Fed United States Average Hourly Earnings YoY data: Wage growth was higher than expectations, with average hourly earnings up 4.4% from a year ago, above the 4.3% estimate.
What is your thought on the upcoming CPI data?
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