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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
DATA REACT
The Cleveland Fed's median CPI indicator ticked up to 2.21% Y/Y in June, highest since Nov-20 but not close to the recent peak in Oct 2019 of 3.00% - and slowed M/M to 0.2% from 0.3% in May.
- But the 16% trimmed mean CPI (which "is a weighted average of one-month inflation rates of components whose expenditure weights fall below the 92nd percentile and above the 8th percentile of price changes"), in other words the bulk of the distribution - hit a 13-year high of 2.90% Y/Y (0.5% M/M).
- While of course both are well below the actual June CPI prints - as would be expected given the nature of the Cleveland Fed calculations - the distribution of price gains with a tame median but a soaring mean paints a mixed picture of broadening price pressures.
Source: Cleveland Fed, MNI. PCE data is to May
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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