The Numbers
Too Hot For Cuts, Too Cool For Hikes
May US CPI was roughly in line with estimates and still shows no evidence of energy passing through to core inflation. Headline CPI rose 0.5% m/m, accelerating to 4.2% y/y from 3.8%. Core came in cooler than estimates at 0.2% m/m, down from 0.4% in April,…
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