Inflation slightly exceeds expectations. September 13, 2023
Retail level pricing, as measured by the Consumer Price Index, rose from +3.2% year over year in July to +3.7% in August. That was just over the +3.6% expectation. The peak in year over year inflation growth was in June of 2022. Increases slowed to +3.0% in June of this year. The trade still expects the Federal Reserve to leave short term interest rates unchanged at next Wednesday's meeting.
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