🇺🇸📊U.S. Inflation Surprise Index Steady In July: Cable FX Macro
- Rosbel Durán
- Aug 15, 2024
- 1 min read
**As seen in Online Tools>U.S. Inflation Dashboard, subscribe at cablefxm.co.uk/reports
Our own measure of U.S. inflation surprises stabilized in July, the index has been negative since May. U.S. headline CPI has missed the consensus survey every month since, and is now the largest downside contributor to our surprise index
Some other interesting points we gathered in July include user car prices falling 2.3% M/m, the largest decrease in our component monthly tracker. We have not seen a fall of this size in this category since January
The CPI contribution monitor shows commodity prices deflating as they drag the index lower. The contribution from energy prices falls to less than 1/10 of a percent, while food CPI contribution is unchanged from June
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