Highest core CPI reading since August 2011
- CPI up 0.4% m/m vs 0.2% exp
- Ex-food and energy +0.3% vs +0.2%
- Ex-food and energy up 2.0% vs 1.9% exp (highest since Aug 2011)
The Fed is stacked with a few frothy-mouthed inflation hawks and they will be itchin’ to finish the taper after this. You might even hear some talk about a larger taper this week or sooner hikes.
US CPI y-y
The US dollar is higher and bonds are slumping after the data.
