US CPI preview: Inflation expected to fall to the lowest since 2021 ...Middle East

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US CPI preview: Inflation expected to fall to the lowest since 2021
As inflation in the US ramped and then rolled over, it was typical to get massive market moves on CPI data but as prices have cooled, so has the market reaction. Unfortunately, the magic is gone -- and now rests with non-farm payrolls as the Fed focuses on its employment mandate -- but it's still a market mover and certainly the most-important data point this week.The consensus on the headline number is +0.2% m/m and +2.6% y/y. The latter would be the lowest since 2021. In fact, anything below last month's 2.9% reading will be the lowest since 2021.It's a reminder that inflation is almost back to target. Another helping hand for inflation is currently coming from the oil market, where prices

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