CPI numbers.

in #us9 days ago

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Headline CPI came in at 0.2% month to month in August (2.3% annualized).

Core CPI came in at 0.3% month to month (3.4% annualized).

Shelter inflation was relatively hot in August. Most other categories were low or had deflation.

The Fed mainly focuses on PCE rather than CPI, and PCE has been trending at or below the Fed's inflation target. We won't get the PCE release until after the Fed meeting.

This probably makes a 25 basis point cut more likely than a 50 basis point cut, all else equal.