- Prior was 3.4%
- Unrounded vs +3.365% prior
- CPI m/m +0.4% vs +0.4% exp
- Prior CPI was +0.1%
- Unrounded CPI m/m % vs +0.074% prior
Core readings:
- Core y/y 2.4% vs 2.4% expected
- Prior core was 2.5%
- Core m/m +0.3% vs +0.2% expected
- Prior m/m +0.2%
- Unrounded % m/m vs +0.215% prior
- Core-CPI services ex-Rent/OER (supercore) was vs +0.189% m/m prior
- Core-CPI services ex-shelter vs +0.355% m/m prior
- Core goods % m/m vs +0.2% prior
Ahead of the report, the market was pricing in a 68% chance of a rate hike in September and 43.7 bps in hikes this year. USD/JPY was trading at 154.01 ahead of the report.
Key sub-components:
- Owners’ equivalent rent: % vs +0.3% prior
- Rent of primary residence: % vs +0.3% prior
- Motor vehicle insurance: -0.3% vs -0.3% prior
- Airfares: % vs +2.2% prior
- Used cars: % vs +0.4% prior
- Apparel: % vs +0.1% prior
- Medical care: % vs +0.4% prior
- Lodging away from home: % vs -2.8% prior
- Energy m/m: % vs -1.5% prior
- Gasoline m/m: % vs -2.9% prior
- Food m/m: +% vs +0.1% prior
This article was written by Adam Button at investinglive.com.