Founders CPI Prep

Lower Consensus, But Terminal Targets Start to Diverge

Good morning.

Consensus: 0.5%

Estimates:

BOA- Headline CPI likely increased by 0.5% m/m in October, owing in part to the first increase in energy prices in four months.

JPM-We forecast 0.6% headline CPI next week…This week’s CPI will be the most important factor to shape the expectations for December FOMC

GS- We expect a below-consensus 0.44% increase in cor…