CPI REPORT INCOMING
Here is what you need to know about the upcoming CPI data report this week.
This Thursday November 10th, 2022 the CPI Report will be released.
This CPI report will know doubt affect the market, Ricky Gutierrez will be hosting a live stream while the CPI report is released. Ricky will be going live at 6:10am MST or 8:10am EST. This will be a public livestream so anyone can join and watch live.
Nowcast data looks disappointing for October’s U.S. CPI inflation data. Currently the inflation nowcast from the Federal Reserve Bank of Cleveland has October inflation running at 0.8% month-on-month, with core inflation at just over 0.5%. Of course, we’ve just over half-way through October, so the numbers could change, but currently they don’t look good.
This would imply an increase in month-on-month inflation for the months of July to September as falling energy prices, which can be volatile, are no longer expected to bring down the U.S. inflation rate.
This is because energy prices are up slightly for October so far, albeit down slightly from highs earlier in the month. If this nowcast holds, it would imply little change to the annual U.S. CPI inflation rate in terms of annual inflation.
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The stock market is dropping and now is the best time to start investing in the stock market! Watch me trade live in the stock market. My learn plan profit group gets to watch me trade live every day, get a feel of what they experience daily. -Ricky Gutierrez