JUL 13. CPI 9.1%, inflation peaked this time?
It was another shocking CPI day. Year on year basis, CPI surged 9.1% in June.
That’s the highest number since last Nov 1981.
Core CPI surged up 5.9% year on year basis, another new record in 40 years.
The actual number was well over the estimation and it provides the perfect base for FED to raise the rate big.