CPI rises 0.2% M/M in July, as expected, core CPI increase also in line
- July Consumer Price Index:
- +0.2% M/M vs. +0.2% expected and -0.1% prior.
- +2.9% Y/Y vs. +3.0% expected and +0.3% prior.
- Core CPI, which excludes food and energy:
- +0.2% M/M vs. +0.2% expected and +0.1% in June.
- +3.2% Y/Y vs. +3.2% expected and +3.3% prior.
The 10 Year is at 3.87%, up from 3.84, futures are flat. I suspect that after the benign PPI report yesterday, perhaps there were expectations of even lower CPI growth.