Highlights of the August 2020 US consumer price index report
- Prior was +1.0% y/y
- CPI ex food and energy +1.7% y/y vs +1.6% expected
- CPI +0.4% m/m vs +0.3% expected
- Ex food and energy +0.4% m/m vs +0.2% expected
Wages:
- Real avg hourly earnings y/y +3.3% vs +3.7% prior
- Real avg weekly earnings yy+3.9% vs +4.2% prior
Prices of used cars rose the most since 1969 as people abandon public transit. Prices were up 5.4% and were responsible for more than 40% of the gain in the core index.
