Tame CPI report for May masks inflation pressure.(Consumer Price Index)(Brief Article)
measurably higher than the Fed’s stated goal of 2.0% inflation.Core CPI also rose +0.3% MoM, and is now up +3.6% YoY.Producer Prices rose a higher than expected +0.5% on the month, but are only up 2.2% YoY (Core PPI was +0.5% MoM and +2.4% YoY).Consistent with these moves, ...
On a monthly basis, the headline CPI rose 0.8% while the core was up 0.7%. The estimate was 0.5% for both readings. Markets largely shrugged off Thursday's inflation report, with stock market futures indicating a gain at the open though government bond yields moved higher. The benchmark 10...
"The May CPI and PPI data are favorable for our view that the Fed will be reducing its policy rate later this year," Bank of America economist Stephen Juneau said in a note. "We see recent inflation data as greatly reducing the likelihood that the Fed has to raise rates and view labor...
The Bank of England expects the CPI to fall to slightly below the 2% target in the second quarter of 2024.Among surveyed emerging economies, inflation continued to fall, excluding Russia’s wartime economy. China saw consumer prices in April inflate at a rate of 0.3% (0.1% in March), but...
The May CPI surged 8.6 percent from a year earlier, a larger increase compared with the 8.3-percent growth in April, marking the third straight month of inflation over 8 percent. The March figure was 8.5 percent. The May CPI was the largest 12-month increase since the period ending December...
The U.S. CPI rose by 3.0% year-on-year and 0.5% month-on-month in January, marking the largest increase since August 2023, indicating a reversal in the trend of slowing inflation, with only one potential interest rate cut expected this year. The Trump administration is anticipated to conti...
"The reason that the Fed is thinking seriously now of 75 basis points is that the inflation number last week was higher than they expected. The Fed is determined to regain control over inflation," Lachman said. The U.S. Labor Department reported Friday that consumer price index (CPI) skyroc...
Instead, they continuously report “cost fatigue” related to current price levels and cumulative inflation relative to pre-pandemic. CPI is up 22% since December 2019. What should we make of the post-election financial market reaction? The immediate financial market reaction reflected expectation...
The fourth graph shows the unemployment rate. The unemployment rate decreased in May to 13.3%. This was well above consensus expectations of 8,250,000 jobs lost, however March and April were revised down by 642,000 combined. This was a surprising employment report since all other data pointed...