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Consumer Price Index:Historical Releases/2023 June: Difference between revisions
Consumer Price Index:Historical Releases/2023 June (view source)
Revision as of 19:13, 10 July 2023
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== CPI expectations == | == CPI expectations == | ||
June 2023 headline CPI is expected to , comps from June 2022 continue to be very high, but after July they start to | June 2023 headline CPI is expected to , comps from June 2022 continue to be very high, but after July they start to decrease significantly. Core prices are expected to continue in the 5%+ range, and well above the FED targe. | ||
Some developments during the month: (more details: [[Consumer Price Index]]) | Some developments during the month: (more details: [[Consumer Price Index]]) | ||
* Wages are stil above historical averages | * Wages are stil above historical averages and came higher than expected in June, matching May increase. | ||
* Energy were | * Energy were slightly up during June, however, due to the increases in energy in 2022, we will probably still see | ||
* Food prices was down 1.4% percent in June, and 23.4% since its peak | * Food prices was down 1.4% percent in June, and 23.4% since its peak | ||
* Supply chain continue to be below the index’s historical average in June | * Supply chain continue to be below the index’s historical average in June | ||
* Housing prices recorded a third consecutive month of | * Housing prices recorded a third consecutive month of price increases, increasing 1.7% month-over-month in April of 2023. This data could suggest that cooling in shelter CPI could not be permanent or volatile. | ||
* Used Car decreased 4.2% m/m among the largest declines in history, this will be | * Used Car decreased 4.2% m/m, among the largest declines in history, this will be reflected in CPI in coming months due to the lags. | ||
The markets are now pricing a hike in | The markets are now pricing a hike in July meeting, with 92% probability. There are no more hikes priced for 2023, and no cuts either. | ||
''Range:'' | ''Range:'' | ||