In the monthly analysis of the CPI report, the Inflation Guy reflects on an improving inflation picture while cautioning that it isn't improving quite as much as the surprisingly-awesome core and headline figures today suggested. There were two large outliers that likely won't repeat. That said, it is a positive-enough report that the Fed's presumptive rate hike expected later this month might be deferred.
Inflation continues to trend slowly lower, but only slowly - and although the longest journey begins with a single step there are a whole lot of steps ahead before we get to the 2% Promised Land.
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