BlockBeats news, June 10: "Fed Whisperer" Nick Timiraos commented on the CPI data: The month-over-month increase in core CPI for May was 0.21%, very close to expectations, pushing the annual core CPI rate to 2.9%. This is the first time since December 2022 that the annual core CPI rate has risen above the prior year's level.
Core CPI year-over-year rises to 2.9%, the first increase since December 2022
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Summary
CFT concerns persist as core CPI year-over-year rose to 2.9% in May, the first increase since December 2022. Core CPI climbed 0.21% month-over-month, in line with expectations. Nick Timiraos, the Fed’s spokesperson, noted the reading as a potential shift for risk-on assets. The data could influence upcoming policy decisions.
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