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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
Medical care prices - just over 8% of the CPI basket - provided a lift to core prices in August, with Services (6% of CPI) up 0.1% M/M (after -0.4% in Jul, and only the 2nd positive reading in the past 11 months).
- The largest weighted Health care Services subcategory, Professional Services, rose 0.6% M/M (highest print since Sept 2022; +0.3% prior), with Hospital/related services +0.8% (-0.2% prior). Though the lesser-weighted Health Insurance dragged once again at -3.6% (-4.1% prior).
- Judging from analysts' previews of the August report, this bounceback in Medical Care Services prices was not a major surprise.
- Medical care Commodities meanwhile continued a fairly steady set of price rises, at 0.6% M/M (0.5% prior).
- August's report showed a clear pickup in Health Care price pressures overall which helped drive the overall core reading higher (contributions from Health Care represented a +0.03pp swing in Aug CPI vs Jul) - though note that the relevant PPI figures will be more important for the Fed's purposes as they feed into PCE, not the CPI data directly.
Source: BLS, MNI
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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