US CPI/PPI - 2023-08-09
Date:
Thursday, August 10, 2023
Summary:
CPI year-over-year beats expectations, but rises because an anomalous year-ago comparable of zero rolls off. It’s all OER. Without it, CPI was almost unchanged on the month. Core excluding OER, the best measure of the true inflation signal, outright deflated on the month, and is now at a mere 3% year-on-year.