Today was CPI day and we finally saw the cracks in inflation appear more significantly even though headline number was flat for October, +3.2% y/y, with Core at +4.0% y/y, both below expectations.
3-mo ann rate was +3.4%, vs +3.1% in Sept
6-mo ann rate was +3.2% vs +3.6% in Sept
12-mo rate was +4.0%, the smallest increase in 2 years
Housing +6.7% vs. +7.1%…
