Daily Note | June 12, 2024 | Cool CPI Report, Finally.

CPI day and it came in cooler than expected, for once. CPI came in at 0.0% m/m on the headline and +0.163% m/m on Core, (+2.0% annualized). The expectation was for 0.3% on Core. Supercore came in NEGATIVE -0.047%, well below expectations.

It is that last number that the Fed is closely watching - CPI minus food/energy and housing. Here are all the y/y num…