- Prior was 4.2%
- CPI m/m -0.4% vs -0.1% exp
- Prior CPI was +0.5%
Core readings:
- Core y/y 2.6% vs 2.8% expected
- Prior core was 2.9%
- Core m/m 0.0% vs +0.2% expected
- Prior m/m +0.2%
Ahead of the report, Fed funfds futures were pricing in 9.2 bps of hikes at the July 29 meeting and 41 bps this year. After the report, those numbers have fallen sharply, though the market is also sorting through the comments from Warsh.
This article was written by flc97fe4880a4b454993821fe0b770a597 at investinglive.com.
