Inflation pressures prompt rate cut outlook
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Two inflation reports indicated that overall pricing pressures remain well below the peak rates in summer 2022 .
Core inflation rate (ex-food and energy) also ticked higher, to 3.3% from 3.2% the prior month .
Transportation Services and Shelter costs continued to increase at high rates, leading the overall index higher.
We expect pricing pressures to again ease as the housing market cools.
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