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On the SPOT™ blog (09/13/2023) [D..]

Bureau of Labor Statistics release the August CPI data this morning that showed that CPI and core CPI (excluding food and energy prices) both increased compared to July. The numbers were largely inline with expectations. Gas prices has increased ~10% so it was kinda expected that CPI numbers would show an increase. However, core CPI number is also up perhaps related to housing and few other items. The oil price spike could be a transient issue so current report may not be alarming for Feds. Remains to be seen what the Feds think that should become clear next week but at the moment, it appears as if investors are not expecting any drastic move as all three major US indices are in the green this morning (PST). Retail numbers (I think due tomorrow) might also shed some light.

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