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.
U.S. CPI saw a slightly larger than expected increase in August, accelerating to a 0.6% (0.631% unrounded) increase from 0.2% in July as gas prices surged and shelter inflation stayed high. Core CPI rose 0.3% (0.278% unrounded) in August, a tenth faster than July and analyst expectations, sending 10-year Treasury yields briefly to their highest levels since 2007.
From a year ago, headline CPI picked up to 3.7% from 3.2% in July and core CPI rose 4.3%. The data should keep Federal Reserve officials open to another possible quarter-point hike in interest rates before the end of the year. (See: MNI INTERVIEW: Fed Probably Needs A Bit More Tightening-Aikman)
Shelter inflation slowed to 0.29% in August from 0.4% for the two previous months and owners' equivalent rent inflation at 0.38% was the weakest since August 2021 and lower than markets expected. The rise in airfares (+4.9%) and used car prices (-1.2%) were at the high end of analyst 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.