- Prior was +8.2%
- m/m CPI +0.4% vs +0.6% expected
- Prior m/m reading was +0.4%
- Real weekly earnings -0.1% vs -0.1% prior
Core inflation:
- Ex food and energy +6.3% vs +6.5% y/y expected
- Prior ex food and energy +6.6%
- Core m/m +0.3% vs +0.5% exp
- Prior core m/m +0.6%
This inflation report sets the stage for the rest of the year, or at least until the December 13 CPI print.
There’s a major dovish reaction in the markets with the US dollar sinking, equities dropping and bonds rallying strongly.
The details of the report show shelter running hot with owners-equivalent rent +0.6%.
- Used cars -2.4% m/m
- Food +0.6% m/m
- Energy +1.8% m/m
- Fuel oil +19.8% m/m
- New vehicles +0.4%
- Apparel -0.7%
- Medical care 0.0%
This article was originally published by Forexlive.com. Read the original article here.