Inflation data from South Korea for August 2023:

  • +1% m/m (expected +0.3%)
  • +3.4% y/y (expected +2.7%)
  • August core CPI +3.3% y/y (was 3.3% in July)

These results raise the question, again, if the biggest drops in inflation, across the globe not just in SK, have been seen already and thus the potential for central banks to shift back onto a rising path.

I posted this in jest a couple of weeks ago. Maybe not in jest?

powell at jackson hole

New York Fed head Willaims, White House key adviser Brainard, The Jay.