US CPI inflation data 12 June 2018
- Prior 2.5%
- 0.2% vs 0.2% exp/prior m/m
- Core CPI 2.2% vs 2.2% exp y/y NSA. Prior 2.1%
- 0.2% vs 0.2% exp m/m. Prior 0.1%
- Real average weekly earnings 0.1% vs -0.1% exp y/y. Prior 0.4%
- Real average hourly earnings 0.0% vs 0.2% prior y/y
Bit soft on hourly earnings but otherwise inflation is holding up.
The buck hasn’t taken any solace from the data and is looking a touch softer. I’m getting the feeling that the market want’s more than what’s expected from inflation just so it can continue believing in the Fed.