https://twitter.com/JJ04519737/status/1701928748449219040
Grocery prices rose in July by the most since early this year, and those costs are 23% higher than they were at the start of the pandemic, per Bloomberg.
— unusual_whales (@unusual_whales) September 13, 2023
US CPI Surges More Than Expected In August
Following July’s rebound in headline CPI, August was expected to see that accelerate further (driven by surging energy prices and healthcare methodology changes). Headline CPI rose 0.6% MoM (as expected), but pushed the YoY change to +3.7% (up from 3.2% prior and hotter than the 3.6% exp). That is the biggest MoM since June 2022…
Currently, there is just a 9% chance of a 25 bps rate hike at next week's Fed meeting.
However, odds of another rate hike by year-end are back on the rise and nearing 50%.
The Fed's job is still far from over.
Follow us @KobeissiLetter for real time analysis as this develops. pic.twitter.com/hSx2wF111I
— The Kobeissi Letter (@KobeissiLetter) September 13, 2023
US 10-year Treasury yields bump up against the highest levels since 2007 after core CPI surprises to the upside. pic.twitter.com/FRwRcpepr5
— Lisa Abramowicz (@lisaabramowicz1) September 13, 2023
CPI: "The index for gasoline was the largest contributor to the monthly all items increase, accounting for over half of the increase."
Gasoline CPI +10.5% MoM
— zerohedge (@zerohedge) September 13, 2023
BREAKING: Inflation comes in higher than expected
Consensus = 3.6%
Actual = 3.7%
US CPI has now increased for the second month in a row
— Bravos Research (@bravosresearch) September 13, 2023