US CPI/PPI - 2024-07-10
Date:
Thursday, July 11, 2024
Summary:
Big beat for CPI, with outright deflation for June. We see "deceleration" in every major category, including the CPI version of Powell's super-core. The only exception is food. Deeply lagging OER disinflation is starting to catch up with more contemporaneous rent measures such as Zillow.