• An unchanged core CPI print (0.41% after 0.40%) comes as an uptick in core goods inflation (0.07 after -0.13) is offset by softer services (0.545 after 0.61).
  • Core goods inflation was surprisingly strong at 0.07% M/M considering used cars contracted -1.94% M/M after December’s -1.99%, with analysts looking for closer to flat or a small decline for used cars.
  • Indeed, core goods ex used vehicles accelerated from 0.27% M/M to 0.46% M/M, the fastest monthly pace since August, following a stalling in the previously solid decline in the NY Fed's supply chain index [chart]

US DATA: Core Goods Push Back On Recent Deflation Trend

Last updated at:Feb-14 13:54By: Chris Harrison
  • An unchanged core CPI print (0.41% after 0.40%) comes as an uptick in core goods inflation (0.07 after -0.13) is offset by softer services (0.545 after 0.61).
  • Core goods inflation was surprisingly strong at 0.07% M/M considering used cars contracted -1.94% M/M after December’s -1.99%, with analysts looking for closer to flat or a small decline for used cars.
  • Indeed, core goods ex used vehicles accelerated from 0.27% M/M to 0.46% M/M, the fastest monthly pace since August, following a stalling in the previously solid decline in the NY Fed's supply chain index [chart]

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