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    Core CPI Hotter Than Expected As Used-Car Price Rise Offsets Energy Drop

    December 12, 2023
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    Having slowed to unch MoM in October, November's headline CPI was also expected to be flat MoM, but it printed modestly hotter than expected +0.1% MoM, which dragged the YoY CPI change down to 3.1% (as expected) from 3.2% in October. That is still above June's 3.1% YoY low print...

    Core CPI accelerated modestly MoM (as expected), rising 0.3% (from +0.2%) with Core CPI YoY flat at 4.0% from October...

    Most problematically for The Fed (and the 'rate-cut-hypers') is the fact that Core CPI Services Ex-Shelter (SuperCore) rose 0.5% MoM (hot) and 4.08% YoY (back above the Maginot Line of 4%)...

    To read more visit Zero Hedge.

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