Inflation Eases, Fed Exhales…Somewhat
What Happened? For the first time in several months, US inflation was softer than expected in July. Headline and core CPI were 0.0% and +0.3% month-over-month, respectively. That leaves the year-over-year figures at 8.5% for headline CPI and 5.9% for core CPI. Both are obviously still far too high, of course, but less ‘too high’
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