August US CPI data

  • Prior was 1.7% y/y
  • Ex-food and energy 2.2% vs 1.7% exp
  • Avg weekly earnings +0.5% y/y vs +0.1% prior
  • Avg hourly earnings +0.2% vs -0.1% prior

Month-over-month data:

  • CPI 0.2% vs 0.3% exp
  • Prior +0.2%
  • Ex food and energy +0.1% vs +0.3% exp
  • Prior ex food and energy +0.2%

Weak numbers across the board. Wages rebounded after a drop in July but +0.5% wage growth isn't exactly stoking inflation.