Consumer Price Index (CPI) Data Analysis As Next Report Looms
Investors will be focused on the Consumer Price Index (CPI) data release on Wednesday June 12th at 8:30am ET.
Expectations are for the May month over month CPI to be 0.3%, equal to last month's 0.3% month over month number.
In addition, the year over year CPI is expected to decline to 3.5% from last month's 3.6%.
Note, these numbers still put overall CPI far above the Federal Reserve's goal of 2% inflation.
The chart above shows CPI data over the last 8 months, highlighting that CPI was on the rise from December of 2023 through January 2024. While not back to its lows, CPI data has inched back down from its high of 0.44% in February 2024 to 0.31% in April 2024.
Commodities and labor costs have been a thorn in the of the Federal Reserve, along with rent, insurance and a few other select inflation measures.
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