CPI - Core inflation barely changed

 Once driven by fuel and goods, the base effects from the fall in oil prices mean that energy inflation is negative, and so the “headline” rate of inflation dropped from 4.9% to 4.0%. 

However, core inflation barely changed. On a month-on-month annualized basis it actually ticked up a little

The overriding issue concerns services inflation.

The market’s prediction is now that there will be no net cuts at meetings of the Federal Open Market Committee for the rest of 2023

Inflation is no longer accelerating, so there’s no need to push too hard against it. And as it’s still too high for comfort, it’s likely to be a while before the Fed feels comfortable about cutting. 

John Authers Bloomberg 14 juni 2023 

https://www.bloomberg.com/opinion/articles/2023-06-14/us-inflation-great-post-covid-scare-enters-final-phase


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