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13th May 2024 20:19USDaily Monitor

  • We are merely nudging up our forecast for the April core CPI to 0.37%, from 0.35%, following the PPI data.
  • Short-term movements in many equivalent PPI and CPI components are weakly correlated.
  • We also look today for a 0.4% rise in total retail sales, consistent with near-zero real consumption growth.

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Keywords for: 15 May 2024 US Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence