US June CPI is out!! Good times are here again???


Core CPI YoY fell to 2.6%, below expectations of 2.8%; and the month-over-month figure is 0%, the lowest since January 2021. Headline CPI YoY is 3.5%, MoM -0.4%, also far below expectations.
But… this cooling is largely coming from energy: gasoline prices fell 9.7% month-on-month, and the energy index fell 5.7%.
And yet, the straits have been causing trouble again recently… so this is a CPI that’s “very dovish in the short term, needs verification in the long term”: Fed rate-hike pressure is clearly easing, rate-cut expectations are heating up, and US stock tech shares and crypto assets have benefited in the short run; but if oil prices rebound, inflation could rise again……
Forget it—have a drink and enjoy the moment! 😭 Long-suffering stock investors!!
GAS2.03%
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