US DATA: CPI Supercore Lifts But Stronger Than Expected Considering Airfares Slump
Aug-10 12:39By: Chris Harrison
- Core services ex OER & tenants’ rents: 0.19% M/M in July after 0.00% M/M, vs 0.24% in May.
- Core services ex all shelter: 0.23% M/M in July after 0.06% M/M, vs 0.21% in May.
- Those are in line with a few analysts looking for 0.2% M/M readings.
- However, that’s a stronger than expected bounce considering airfares were weaker than expected at another heavy -8.1%. Analysts seen beforehand averaged circa -1.5% (ranging from +2.5% to -4%) after the -8.1% M/M of June.
- Remember that airfares for the PCE equivalent are taken from tomorrow's PPI data.
