The US inflation report is likely to look soft and risks are on the low side of consensus estimates, especially for core inflation. The medium-term issue is that our indicators hint of a bottom above 2%.
![CPI watch: 6 charts on a soft’ish inflation report](https://stenoresearch.com/wp-content/uploads/2023/02/WS-Inflation-1080x675.png)
The US inflation report is likely to look soft and risks are on the low side of consensus estimates, especially for core inflation. The medium-term issue is that our indicators hint of a bottom above 2%.