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.
The U.S. consumer price index for July came in just a tad softer than analysts expected, rising 0.167% from a month earlier and 3.2% over the year, a tenth below the Wall Street median. Core CPI rose 0.160% from June and slowed to a 4.7% increase over the year from 4.8% in June.
The softer print adds to the case for holding off on another Fed interest rate hike in September. Treasuries futures surged and the U.S. dollar faded further on the day. (See: MNI INTERVIEW: Fed's Rich Says Inflation Set To Keep Falling)
Shelter accounted for over 90% of the the July increase, the Bureau of Labor Statistics said. Economists expect that index to decline over the next year. (See: MNI INTERVIEW: US Disinflation In Train But Economy Overheated) The closely watched core services prices excluding housing categories rose 0.2% over the month, largely in line with expectations, although airfares came in weaker than expected, falling 8.1% over the month.
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.