Consumer Prices Soar By Most In 11 Years In June On Rebound In Fuel Costs
After three months of ‘deflation’, consumer prices were expected to rebound strongly in June and it did, with headline CPI beating expectations (+0.6% MoM vs 0.5% exp). That is the biggest monthly jump since June 2019…
Both Goods (Ex-Energy) and Services (ex-Energy) CPI growth slowed on a YoY basis…
The driver of the headline beat and surge in CPI was soaring motor fuel costs – up 12% MoM…
Will The Fed shrug this off as ‘transitory’?