May 10, 2023
CPI (12m trailing inflation) announced this morning... 4.9%. This was better than the 5% expected.
This makes the 11th consecutive month of declining inflation since peaked at 9.1% in June, followed by 8.5%, 8.3%, 8.2%, 7.7%, 7.1%, 6.5%, 6.4%, 6%, 5%, and now 4.9%.
The CPI was up MoM 0.4%, as expected. Higher than March, but the same or lower than the first 2 months of 2023.
The Core CPI (excluding Volatile Food and Energy) was 5.5% for the past TTM.
Core CPI increased 0.4% for the month, both as expected.
The Popular consensus is for no more interest raises ahead in the next Fed meeting in June and perhaps 2 x 0.25% decreases late this year.
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