US CPI for June 2019
- US CPI MoM 0.1% versus 0.0% estimate
- US CPI ex food and energy MoM 0.3% versus 0.2% estimate
- US CPI YoY 1.6% versus 1.6% estimate. Last month 1.8%
- US CPI ex food and energy YoY 2.1% versus 2.0% estimate. Last month 2.0%
- real average hourly earnings YoY 1.5% versus 1.3%
- real average weekly earnings YoY 1.2% vs 1.0% last month
The numbers are not far from expectations. The headline CPI YoY is down from last month at 1.6% (vs 1.8% last month). The core YoY was a tick higher at 2.1% vs 2.0% last month. That is 0.1% above the Fed target but below the 2018 high of 2.4% still.
