{"id":60374,"date":"2021-11-10T07:21:33","date_gmt":"2021-11-10T12:21:33","guid":{"rendered":"https:\/\/olduvai.ca\/?p=60374"},"modified":"2021-11-10T07:21:33","modified_gmt":"2021-11-10T12:21:33","slug":"relief-from-high-prices-unlikely-analysts-say-ahead-of-consumer-inflation-data-release","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=60374","title":{"rendered":"Relief from High Prices Unlikely, Analysts Say Ahead of Consumer Inflation Data Release"},"content":{"rendered":"
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\"A<\/a><\/div>\n
A customer shops for meat at a Safeway store in San Francisco, Calif., on Oct. 4, 2021. (Justin Sullivan\/Getty Images)<\/div>\n<\/div>\n
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Relief from High Prices Unlikely, Analysts Say Ahead of Consumer Inflation Data Release<\/a><\/h3>\n<\/div>\n
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With investors closely eyeing two major data releases this week on\u00a0inflation<\/a>\u2014one on producer input costs and the other on consumer prices\u2014Wells Fargo analysts say it\u2019s unlikely sticker-shock-weary consumers will see relief as the persistent supply-side crunch will \u201ckeep fanning the flames on inflation in the near term.\u201d<\/p>\n

On Tuesday, the Labor Department will release data for October\u2019s producer price index (PPI<\/a>), which tends to front-run consumer inflation data as at least some production costs get passed on to consumers.\u00a0Economists expect<\/a>\u00a0a year-over-year rise of 8.7 percent in the PPI inflation measure, which would be the highest reading in the history of the series. Last month\u2019s PPI\u00a0came in at<\/a>\u00a08.6 percent, a record high.<\/p>\n

And on Wednesday, the Labor Department will issue figures for October\u2019s consumer price index (CPI<\/a>), a key measure of inflation from the perspective of end consumers of goods and services. Consensus\u00a0forecasts predict<\/a>\u00a0a year-over-rise of 5.3 percent in the CPI inflation gauge for October, with the prior month\u2019s rise amounting to 5.4 percent, near a 30-year high.<\/p>\n

On a month-over-month basis, CPI is expected to clock in at 0.5 percent, according to\u00a0consensus forecasts<\/a>\u00a0released by FXStreet, though Wells Fargo analysts expect inflation was running hotter.<\/p>\n

\u201cConsumer Price Index report for the month of October is unlikely to offer much of a reprieve on the inflation front,\u201d Wells Fargo analysts wrote in a note, in which they predict a 0.6 percent month-over-month increase in the CPI index. \u201cIf realized, this would put headline CPI inflation at 5.9 percent year-over-year.\u201d<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A customer shops for meat at a Safeway store in San Francisco, Calif., on Oct. 4, 2021. (Justin Sullivan\/Getty Images) Relief from High Prices Unlikely, Analysts Say Ahead of Consumer Inflation Data Release With investors closely eyeing two major data releases this week on\u00a0inflation\u2014one on producer input costs and the other on consumer prices\u2014Wells Fargo […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1055,2026,172,426,13351,31091,11402,16350,32125],"class_list":["post-60374","post","type-post","status-publish","format-standard","hentry","category-economics","tag-consumer-price-index","tag-consumer-prices","tag-cpi","tag-inflation","tag-price-inflation","tag-supply-chain-disruptions","tag-supply-shortages","tag-the-epoch-times","tag-tom-ozimek"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60374"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60374\/revisions"}],"predecessor-version":[{"id":60375,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60374\/revisions\/60375"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}