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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.
US DATA
In another indication that the stronger-than-expected September core CPI figure of 0.32% M/M was broad-based, the Cleveland Fed's estimate of "median" CPI came in at +0.46% M/M, up from 0.33% prior and the highest figure since February 2023.
- Similarly, the 16% trimmed mean series printed +0.40%, up from 0.29% prior - also a post-February high.
- Both series have accelerated for 2 consecutive months following a July trough.
- That said, the Y/Y numbers keep diminishing : median at 5.5% was the lowest since April 2022, while 16% trimmed mean fell to a 22-month low 4.3%.
- It's a similar story for the Atlanta Fed's "sticky" CPI series: the ex-shelter index printed 0.36% M/M, virtually identical from August's 0.37%, with "sticky core" overall at +0.44% M/M, up from 0.39% prior and a 7-month high, and sticky core-ex shelter ticking a little lower at 0.34% M/M vs 0.39% prior.
- While all of those 1-month rates were above 4% annualized, there is some consolation for doves in that 12-month rates diminished (core sticky at 5.0% Y/Y, lowest since May 2022; sticky ex-shelter at 3.3% and core sticky ex-shelter 2.9% both lowest since Sep 2021).
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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