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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.
US DATA
Looking at services inflation - September data includes strong readings in shelter: 0.56% M/M owner equivalent rent (from 0.38% prior and highest since Feb), with primary rents ticking slightly higher to 0.49% from 0.48%. Both of those were above-expected. That meant OER+rents contributed more than 0.18pp to overall inflation.
- Overall core services rose +0.57% M/M, from 0.39% last month - again a post-Feb high.
- Core services excl OER & primary rents: 0.611% M/M after 0.366%. That's the highest print since Sept 2022. Latest 3mth av of 0.39%.
- Major contributors: hotels (+3.7% M/M from -3.0% prior, adding 0.04pp to inflation alone, vs -0.04pp last month)), medical care services (+0.3% from +0.1%). Offset by airfares +0.3% from +4.9% prior.
- None of those are big surprises vs expectations though the overall print is on the high side of expectations.
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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