US CPI
US CPI y/y

Headline CPI:

  • CPI +2.4% vs +2.5% expected (some forecasts were 2.4%)
  • Prior was +2.9%
  • m/m reading at +0.1% vs +0.2% expected (unrounded consensus was +0.16%)
  • Month-over-month unrounded +0.081% vs +0.221% prior

Core CPI:

  • Core CPI +2.8% vs +2.9% expected
  • Core CPI m/m +0.1% vs +0.2% expected (some forecasts were +0.27%)
  • Core unrounded +0.130% vs +0.237% m/m prior
  • Real weekly earnings +0.3% vs -0.1% prior
  • Core goods prices % vs +0.06% prior
  • Core services % vs +0.317% prior
  • Core services ex shelter % vs +0.287% prior
  • Core-CPI services ex-rent/OER % vs +0.373% prior
  • Services ex energy % vs +0.317% prior

Prior to the report, the market was pricing in 67 bps in easing in the year ahead and 42 bps in easing through December. That's quickly moved to 77 bps and 48 bps, respectively.

The US dollar is falling hard on this.

Source: Forex Live