Wells Fargo: U.S. CPI likely to stabilize in June but still on downward trajectory
U.S. CPI likely stabilized in June but remains on a downward trajectory, Wells Fargo analysts Sarah House and Aubrey George said in a report on CPI data due Thursday. They expect a 0.1% rise in June on a year-over-year basis, accelerating from a flat rate in May, "with falling gasoline prices helping to keep overall price gains modest." The core index, which is likely to be significantly lower than the 0.35% average monthly gain in the first quarter, is expected to rise 0.24%, while the three-month annualized core CPI is expected to fall to 2.8% from 4.5% in March.
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