Inflation in the US is expected to stay above the Federal Reserve’s target as the economic data calendar returns to normal.
The inflation report scheduled for Thursday morning is projected to show that price pressures remain elevated, making it one of the last major US economic releases following disruptions caused by the government shutdown.
The Consumer Price Index for November will be published at 8:30 a.m. ET. Estimates from Bloomberg suggest annual headline inflation will come in around 3.1 percent.
Core CPI, which excludes food and energy prices due to their volatility, is also expected to rise at an annual rate of about 3.1 percent.
The most recent inflation data available is from September, when both headline and core inflation were recorded at 3 percent year over year.
This upcoming release will be the first official inflation reading since then, as the Bureau of Labor Statistics canceled the October report during the government shutdown. As a result, the November data will not include month-to-month comparisons for either headline or core CPI.
