US June inflation data
- Prior was +0.1% y/y
- Ex food and energy +1.2% y/y vs +1.1% expected
- Prior ex food and energy +1.2% y/y
M/M
- CPI +0.6% vs +0.5% exp
- Ex food and energy +0.2% vs +0.1% exp
Earnings:
- Real avg weekly earnings +4.6% y/y vs +7.3% prior
- Real avg hourly earnings +4.3% y/y vs +6.4% prior
Earnings have been boosted by government programs and it will be interesting to see how that holds up when they run out (or are extended at a lower value) at the end of this month.
