Alongside the pick-up in monthly payroll employment gains, the third consecutive 0.4% m/m rise in core CPI pretty much kills off hopes of a June rate cut from the Fed. The annual core CPI inflation rate remained unchanged at 3.8%, but the three-month annualised rate accelerated to a 10-month high of 4.5%, from 4.2%.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services