INTRADAY ALERT: Sept CPI in-line except for a boggling +51% rise in hotel CPI. Buy this dip as Sept CPI is good enough to keep Fed on pause

This intraday alert will replace tomorrow morning's First Word (10/13) and tonight's Macro Minute Video (10/12)

September CPI, released this morning, was largely in line with Core CPI coming in at +0.32% vs Street of +0.30 and last month's +0.28%. The largest contributor to the rise in Sept Core CPI was shelter. And more specifically, "lodging away from home" which is hotel stays.

Hotels CPI rose +4.21% MoM, or a 51% annualized rate. Does anyone really think hotel price...

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