UUP - May CPI Report: A September Cut Is Back On The Table

2024-06-12 23:05:00 ET

Summary

• May's CPI report came in softer than expected, delivering a positive sign that recent months of sticky inflation may have been just a bump in the road.
• Headline CPI inflation eased from 0.3% in April to 0.0% in May, a significant milestone following many months of hot prints.
• Core goods continue to experience deflation, with prices declining marginally on the month.

By Seema Shah, Chief Global Strategist

May's CPI report came in softer than expected, delivering a positive sign that recent months of sticky inflation may have been just a bump in the road. Both headline and core inflation came in below consensus estimates in May, with core CPI rising just 0.2% month-on-month and headline CPI unchanged on the month....

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