US DATA: Oct CPI -0.1%, core +0.1% (+0.1358% unrounded and a second
month of this modest gain) for +3.5% YOY CPI overall and +2.1% YOY core,
about as expected. In core, autos -0.3% (NSA +0.1%, with the large adj
probably related to model-yr changeover), airfares -0.1%, & Recreation
-0.1% were offset by +0.4% apparel (+1.9% NSA, led by mens and women’s
clothing in a rebound from Sept drops), +0.3% drugs, and OER +0.2%.
Food +0.1% as fruits/veg -1.7%. Energy -2.0% as all areas fell except
electric (+0.4% SA but -4.3% NSA); gasoline was -3.1% after +2.9% in
Sept. Overall, a good report as prices moderated into Q4.