US CPI mm
Headline CPI:
- CPI +2.4% vs +2.6% expected
- Prior was +2.8%
- m/m reading at -0.1% vs +0.1% expected
- Month-over-month unrounded -0.088% vs 0.216% prior
Core CPI:
- Core CPI +2.8% vs +3.0% expected-- lowest since 2021
- Core CPI m/m +0.1% vs +0.1% expected
- Core unrounded +0.116% vs +0.227% m/m prior
- Real weekly earnings % vs +0.1% prior
- Core services +0.126% vs +0.252% prior
- Core services ex shelter +0.1% vs +0.3% prior
- Core-CPI services ex-rent/OER +0.095% vs +0.3% prior
- Services ex energy +0.160% vs +0.24% prior
This is a cool report and that should nudge the Fed a bit closer to cutting, though they are surely more concerned with tariff impacts at the moment. The US dollar is broadly weaker after the data.
