CPI m/m (headline, total) below consensus (-0.1% vs +0.1%, +0.1 vs +0.2, respectively).
Figure 1: Accelerated inflation per Eeckhout (2023) T=12, a=4, for CPI (blue), for bound CPI (tan), for PCE deflator (green). Chained CPI prepared by the author using X-13. Source: BLS, BEA, and author’s statistics.
On the same vertical axis, here are the main measurements.
Figure 2: Fast inflation per Eeckhout (2023) T=12, a=4, for core CPI (blue), for core CPI composite (tan), for core PCE deflator (green). Chained CPI prepared by the author using X-13. Source: BLS, BEA, and author’s statistics.
Market reaction:
Source: TradingEconomics, accessed 7/11/2024. Time is average.
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