US CPI inflation up 0.1% in May; room for optimism in “other” core measures

Summary: US CPI up 0.1% in May, less than expected; “core” rate up 0.4% again; NAB: core inflation stubborn, other core measures provide more room for optimism; Treasury yields rise; rate-cut expectations soften; ANZ: shelter inflation will start to moderate, “heady” second-hand vehicle prices to moderate; non-energy services prices again main driver, adds 0.23 ppts. The annual rate of US inflation as measured by changes in the consumer price index...

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