Flippening Watch
Aug 12, 2022
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Inflation Eases, Markets Rip
The collective world briefly exhaled this week as inflation showed its first signs of cooling in nearly a year. On Wednesday, CPI surprised to the downside, as energy prices showed a month-over-month (MoM) decline for the first time since April.
Topline CPI was 8.5%, below the consensus forecast of 8.7%, and lower than the 9.1% figure in June. The CPI basket was unchanged MoM, as the total energy basket came in 7.6% lower than June, while food continued to climb (up 1%) and prices for all items less food and energy were 0.3% more expensive over the same peri...