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August 2024 US CPI Report: Inflation cooled, edging closer to the Fed's target
The August 2024 Consumer Price Index (CPI) rose 0.2% month-over-month (MoM) and 2.5% year-over-year (YoY), the smallest annual increase since February 2021. There was an unexpected rise in core inflation in August that was driven by a strong increase in shelter and transport services prices, which we do not think will be sustained. Regardless, the big picture is that this data represents something of a "draw" – it doesn't suggest a reacceleration of inflation, but it doesn't meaningfully progress the core disinflation narrative either. In our strategists’ view, this report is a mixed bag for the Federal Reserve ... (full story)
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- Posted: Sep 12, 2024 11:00pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 4,591
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