How should the CPI later be looked at?

A year-on-year rate of 3.8% doesn’t mean much… it’s mainly affected by falling energy (oil) prices. The June drop in oil prices will inevitably lead to a lower CPI. This market has already priced it in.
The more important thing later is the third item: the core CPI month-over-month rate.
The market is currently expecting 0.2%. If the actual figure is slightly lower than 0.2% (for example, 0.21 instead of 0.24) or even 0.19—when rounded to 0.2%
Then inflation will cool, rate-hike expectations will fall, and different assets will rise.
If it comes in at 0.3% or even 0.4%, then get ready for a selloff.
But what matters more now is the digit after the decimal point. 0.24% and 0.25% differ by only 0.01%, but the published data will be 0.2% versus 0.3%.
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So later, I’ll mainly focus on the core. I’ve opened a small script and I’m preparing to calculate in real time where the second decimal place of the core will ultimately land.
I also want to look at the specific items inside the core— which are cooling and which are heating up.
If the heat is in core goods (clothing, furniture, cars), it may be okay.
If the heat is in super core (air tickets, auto insurance, medical), then that’s structural inflation caused by demand and wage structure—this is a real negative. (The FED loves to look at super core.)
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Let the AI track the script and a few smaller items. When the data is released, I’ll post a better interpretation.