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.
CPI inflation across the US rose 0.1% m/m in August and 8.3% y/y but core CPI jumped 0.6% m/m and 6.3% y/y, keeping pressure on the Federal Reserve for another supersized rate hike at its September meeting next week.
Owners' equivalent rent rose 0.7%. Energy rose 23.8% y/y and food increased 11.4%, the largest y/y increase since 1979, the BLS said.
The energy index fell 5.0% over the month as the gasoline index declined, but the electricity and natural gas indexes increased. Equities slumped and Treasury yields surged on the back of the release showing continued price pressures.
St. Louis Fed President James Bullard told MNI last month the Fed will be prepared to hold interest rates "higher for longer" should inflation continue to surprise to the upside.
Source: Department of Labor
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.