Friday 12th January 2024

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US inflation was a little bit of a surprise. Whilst the headline rate was expected to rise a little, it came in higher than forecast, whilst the core rate didn’t fall as much as had been hoped for. NAB’s Ken Crompton says the Fed’s super core measure is the part of the inflation picture that refuses to come down, all of which could impact the speed at which the Fed will bring rates down. Meanwhile NAB has revised the forecast for Q4 CPI for Australia on the back of this week’s November data. It provides a CPI rate lower than the RBA’s forecast, so does that mean we can expect rates in Australia come down faster? 

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