The July headline consumer price index (CPI) inflation report was better than expected at 3.2% year-over-year, down from over 9% in June 2022. Powell’s statement illustrates that the Fed could stop hiking before the headline CPI rate has fallen to the target level. CPI & Rent Inflation Glenview Trust, BloombergThe supercore CPI level looks at services inflation, excluding energy services and housing. It provides good insights while avoiding the flawed government housing inflation data and volatile commodities. While it will likely fade from that pace, above-trend economic growth should remain for the quarter.

Source: Forbes August 27, 2023 18:43 UTC