The Numbers
Inflation Surprises, So What?
The US consumer price index report for June surprised on the upside. Headline CPI accelerated to 5.4% y/y versus expectations of a 0.1pp decline to 4.9% y/y. Core CPI jumped to 4.5% y/y which is greater than the anticipated 0.2pp increase to 4.0 % y/y…
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