2007-12-14 US Economic Releases

Consumer Price Index MoM (Nov)

Survey	0.6%
Actual	0.8%
Prior	0.4%
Revised	n/a

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CPI Ex Food & Energy (Nov)

Survey	0.2%
Actual	0.3%
Prior	0.2%
Revised	n/a

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Consumer Price Index YoY (Nov)

Survey	4.1%
Actual	4.3%
Prior	3.5%
Revised	n/a

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CPI Ex Food & Energy YoY(Nov)

Survey	2.3%
Actual	2.3%
Prior	2.2%
Revised	n/a

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CPI Core Index SA (Nov)

Survey	n/a
Actual	210.177
Prior	212.050
Revised	n/a

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Consumer Price Index NSA (Nov)

Survey	209.800
Actual	210.177
Prior	208.936
Revised	n/a

Pretty frisky inflation number with one apparent anomaly

• Headline is 0.796% MoM and 4.3% YoY.
• Core 0.275% MoM and 2.3% YoY.
• Many components on trend: OER 0.3%, medical 0.4%, recreation 0.1%, tobacco 0.2%
• Apparel was off-trend, rising 0.8%.
• Within apparel, mens and women’s clothing were both negative for the month. So the sole source within this category was ‘toddler and infant’ clothing, rising 1.7%.
• This would have knocked down core enough to round down to 0.2%.
• But persistence of inflation here disconcerting to Fed.

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