06.13.2023
CPI (12m trailing inflation) announced this morning... 4%.
This was better than the 4.2% expected.
It is also the lowest rate in 2 years.
This makes the 12th consecutive month of declining inflation since peaked at 9.1% in June 2022, followed by 8.5%, 8.3%, 8.2%, 7.7%, 7.1%, 6.5%, 6.4%, 6%, 5%, 4.9% and now 4%.
The CPI was up MoM by 0.1%, better than expected.
The Core CPI (excluding Volatile Food and Energy) was 5.3% for the past TTM.
Core CPI increased 0.4% for the month, both as expected.
The Popular consensus (94.2%), is for no more interest raises ahead in the next Fed meeting tomorrow and perhaps 2 x 0.25% decreases late this year.
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