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Weekly Economic Perspectives

Moderating Shelter Inflation to Drive US Core Disinflation

Chief Economist
Investment Strategist

The Economy

  • Surging gas prices push US headline inflation higher, but core measure improves.
  • The ECB hikes again but signals it hopes to be done.
  • Canadian home sales softened.
  • UK unemployment rate ticked up.
  • Japan’s domestic machinery orders hit a record high.
  • Australia’s employment data has a seasonality problem.

Spotlight On Next Week

  • The Fed to hold rates and revise forecasts.
  • The BoE to deliver another rate hike.
  • BoJ to turn more hawkish but maintain policy.

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