Core Consumer Prices Surge At Fastest Rate Since 2008
After a hotter-than-expected producer price print yesterday, consumer prices were more mixed with headline CPI rising less than expected and core CPI rising more than expected.
In fact, core CPI rose 2.4% YoY (2.3% exp) - which is the hottest since September 2008...
Source: Bloomberg
Energy prices weighed the index down as commodity prices rose...
The surge in inflation was led by a jump in Goods prices...
Source: Bloomberg
On the brighter side, shelter/rent inflation slowed a little in August...
So hotter-than-expected CPI and PPI must be transitory, right? Or Powell won't be able to deliver what Trump and the market demand?
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