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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.
EXECUTIVE SUMMARY
- U.S. inflation pulled back considerably in May, judging from both the Consumer Price Index and Producer Price Index reports which by some measures showed the weakest monthly price pressures in years.
- Sequential “supercore” CPI turned negative for the first time in nearly 3 years. While this was attributed by some observers to one-off factors, there were broad signs of softness across ex-housing services.
- Looking at the bigger picture, momentum indicators suggest that the resurgence in inflation in Q1 looks to be easing, but 3-month/6-month annualized rates remain well above the Fed’s 2% target.
- The May print kept the door open to a September Fed cut. Hours after the CPI release, Chair Powell characterized recent inflation data as “a step in the right direction”, though the Fed will have to see more progress before cutting rates.
PLEASE FIND THE FULL REPORT HERE:
USInflationInsightJune2024.pdf
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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