U.S. headline CPI fell to 3.5% y/y in June, undershooting the 3.8% consensus. But the move was energy-led — the energy index dropped 5.7% on the month — while core inflation held flat at 2.6%. Disinflation that arrives through the fuel line is disinflation the universal owner is renting, n
U.S. headline CPI fell to 3.5% y/y in June, undershooting the 3.8% consensus. But the move was energy-led — the energy index dropped 5.7% on the month — while core inflation held flat at 2.6%. Disinflation that arrives through the fuel line is disinflation the universal owner is renting, not owning.
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