CPI Preview: "Hawkish Print More Likely Than A Dovish Print"

With (delayed) payrolls in the books, the week's last notable macro report is Thursday's (delayed) January CPI. As with the jobs report, the most recent 2-day partial government shutdown delayed the release of the January report by a few days, but should have no measurable impact on price data collection or reporting going forward.

Here's what Wall Street consensus expects tomorrow:

• CPI 0.3% MoM, unchanged from December
• CPI Core 0.3% MoM, up from 0.2%