Across the board, numbers were higher than expected.
The CPI grew 0.2% vs. 0.1% expected on a month-over-month basis.
Ex-food and energy prices were up 0.3% vs. 0.2% expectations.Year over year headline inflation was 3.6% vs. 3.4% expected, and core inflation was up 1.5% vs. 1.4% expected.
So, hot and accelerating across the board.
So nothing crazy, but also not good, and it’s particularly worrisome in conjunction with that bad Empire Manufacturing Index.
Dow futures are already off over 100 points.
Background: Will the disinflation we’ve been seeing in commodities show up at all?
Analysts are looking for 0.1% month-over-month CPI growth.
0.2% on core, and 3.4% year-over-year.
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