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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
Another month of cooling CPI suggests the 'transitory' narrative continues to win out, for now.
- Re-opening categories with once-surging prices are now falling away: percentage point contributions to M/M CPI reading has airfares/public transport, used vehicles, car insurance, lodging away from home, and car and truck rental dragging the most on the August reading.
- What's also notable though is that outside of the big pandemic areas, categories that might be associated with Delta consumer hesitancy showed a bit of cooling in August, including Food Away From Home.
- On the margins, perhaps something to give policymakers pause when thinking about the strength of the reopening economic rebound in the face of COVID.
- But the big drags were largely expected and the would-be 'stickier' categories including OER and Rents remain strong contributors, with few unusual outliers in other categories (apart perhaps from household furnishings which were one of the biggest contributors to August CPI after zero impact in July).
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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