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Core Services Ex Shelter and All Major Core Components Accelerate On The Month

US DATA
  • The one tenth increase in core CPI M/M is broad-based across main categories. In both cases of core services ex shelter and core goods ex used cars, they’re still relatively subdued but technically the fastest pace since September, rather than showing signs of a further moderation.
  • Core services excluding shelter accelerated a tenth from 0.16% to 0.26% M/M – orange line below (or from 0.11 to 0.25% if just excluding OER and rents).
  • Same story with shelter from 0.65 to 0.76% M/M.
  • Same story with core goods ex used cars, bumping up from 0.0% to 0.14% M/M (modestly larger bounce including used cars, from -0.5% to -0.3%).

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