A Shocked Wall Street Reacts To Today’s “Scary” CPI Print | ZeroHedge
It was a CPI report for the ages: with most already expecting a hotter than expected print (thanks to JPM), that’s precisely what they got and then some.
First, a quick recap:
- Headline CPI prices surged by 1.0% (0.97% unrounded) mom in May, beating consensus expectations of a 0.7% increase.
- Energy prices spiked 3.9% mom as gasoline prices reached record levels and food prices increases 1.2%.
- Yoy headline CPI inflation made a new 40-year high of 8.6%.