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Week ahead: Markets to focus on US CPI. Will it continue to slow down in December?

January 9, 2023

The US CPI has been slowing down over the past few months. However, it’s likely that this trend will continue into December as well.

Here are market events to look out for this week:

Australia Consumer Price Index (11 January)

The October Consumer Price Index (CPI) in Australia fell below September’s record high of 7.3%.

Analysts expect November’s CPI reading to rebound higher to 7.5%.

US Consumer Price Index M/M (12 January)

The Consumer Price Index in the US rose 0.1% from November 2022, slowing from the 0.4% increase in October. This indicates that annual inflation in the US slowed for a fifth straight month to 7.1% in November 2022, its lowest point since December 2021.

Analysts expect that US CPI might continue to slow down and will be released at -0.1% in December 2022, which means that inflation is slowed more to 6.9%.

UK Gross Domestic Product M/M (13 January)

The economy in the UK grew 0.5% in October from September 2022, the most significant increase in nearly a year.

Analysts predict November’s GDP to be unchanged at 0.0%.

Prelim University of Michigan (UoM) Consumer Sentiment (13 January)

In December 2022, the University of Michigan revised its consumer sentiment index for the US upward to 59.7 in December 2022 from 59.1 in the previous month.

Analysts expect this month’s UoM Consumer sentiment index to be higher at 60.

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