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 added 0.180% on the month, a tenth lower than analysts expected and the smallest monthly increase since August 2021, bringing the 12-month rate to 3.0%, the lowest since March 2021, the Bureau of Labor Statistics said Wednesday. U.S. core CPI for June also slowed more than expected to a 0.158% rise on the month, pulling down the annual rate to 4.8% from 5.3% in May.
The inflation data are good news for the Federal Reserve, especially as the non-housing core services category saw a large moderation in the month, coming in nearly flat after a 0.2% increase in May. Fed Chair Jerome Powell and other officials had noted the persistence of inflation in those categories, which count labor costs as a large component. Shelter continued to count for over 70% of the increase in CPI, rising 0.4% in the month and 7.8% over the year. (See: MNI INTERVIEW: Resilient Jobs Mean Fed Can Tighten More-Kamin)
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.