📉 Inflation in the USA surprises, but calls for caution
The annual CPI in the USA slowed to 2.7% in November, below the market projection of 3.1%. The core CPI (excluding food and energy) also fell to 2.6%, reinforcing the positive surprise in the data.
⚠️ But pay attention to the context: • The 43-day government shutdown affected data collection and canceled the October data
• Part of the slowdown may reflect seasonal retail discounts in November
• Economists warn that the relief may be temporary, with the risk of re-acceleration in December
🔎 Looking ahead:
Estimates indicate that up to 70% of the cost of import tariffs could reach consumers by March, which could put pressure on inflation in the medium term.
📊 Positive data in the short term, but the scenario still requires caution.
