Details of the December 2016 US CPI data report 18 January 2017

  • Prior 1.7%

  • 0.3% vs 0.3% exp m/m. Prior 0.2%

  • Core 2.2% vs 2.2% exp y/y. Prior 2.1%
  • 0.2% vs 0.2% exp m/m. Prior 0.2%
  • Real average weekly earnings 0.2% vs 0.5% prior y/y

  • 0.1% vs -0.3% prior m/m. Revised to -0.6%

  • Real average hourly earnings 0.8% vs 0.8% prior y/y

Inflation pretty much as expected so the dollar move is largely negligible. If anything, the wages make it a soft-ish report.

A jump in rents, gasoline and airfares led the way. As I mentioned in my preview, the jump in CPI was expected, so although it's the highest since 2014, the price action is muted.

US CPI & core y/y