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CPI Increases for the first time since June 2022

CPI

  • US CPI MoM: 0.2% [Est. 0.2%]
  • US Core CPI MoM: 0.2% [Est. 0.2%]
  • US CPI YoY: 3.2% [Est. 3.3%, Previous 3.0%]
  • US Core CPI YoY: 4.7% [Est. 4.8%]

U.S. Initial Jobless Claims

  • 248K, [Est: 230K]
  • Prev: 227K

Continuing Jobless Claims

  • 1.684M vs. [Est.1.710M] 
  • 1.692 Previous (revised from 1.700M).

Real average hourly earnings for all employees increase 0.3% in July.

Economic Futures Data & News – Paradigm Futures

Consumer Price Index

Consumer Price Index

The Bureau of Labor Statistics published its CPI Report, revealing that the Consumer Price Index experienced a 3.2% year-over-year increase in July.

Anticipation surrounded the acceleration of inflation, as measured by the CPI. The forecast predicted a year-over-year CPI of 3.3% for July, following a 3.0% shift over the previous 12 months in June.

The Core CPI, excluding food and energy, exhibited a 4.7% rise over the 12 months leading up to July. This increase closely aligned with the projected year-over-year growth of 4.8%. In June, Core CPI had surged by 4.8% on a year-over-year basis. Notably, the percent changes in year-over-year Core CPI had been gradually cooling in the months preceding the latest data release.

When considering seasonally adjusted month-over-month data, it was observed that Core CPI had risen by 0.2% from June to July. This mirrored the 0.2% increase that had occurred in June.

CPI

In response to the ongoing struggle against inflation, the Federal Reserve had raised interest rates by 25 basis points in July, resuming action after a pause in June. This move was just one among several actions taken by the Fed in its fight against inflation.

The risk of loss in trading futures and/or options is substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance, whether actual or indicated by simulated historical tests of strategies, is not indicative of future results.

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