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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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- Some of the impact from the PPI miss is however offset by a large gap between PPI and CPI airfares, printing +1.1% M/M vs the -8.1% for CPI (PPI feeds into core PCE).
- Recall that the drop in CPI airfares dragged -0.06pps from M/M core CPI in June for a relative drag of -0.04pps after the -0.02pp from May.
- Citi post-CPI had been at the high end of early core PCE estimates we’d seen, having noted: “A more modest decline in PPI airfares, strength in medical services prices, and a rebound in portfolio management fees leave us to expect that core PCE will still rise by around 0.25-0.3% in June”.
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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