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Financial market participants have freaked out about the CPI during most of the previous months this year. Will they do so again over October's CPI (released on Thu.)? Maybe not this time. We expect further signs of easing inflationary pressures, particularly for goods. Services inflation, however, will take a while to moderate. Over the past 12 months through September, the headline and core CPI inflation rates were 8.2% and 6.6%. Over the three months through September, they were 0.7% (saar) and 5.1% suggesting some moderation.
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