The May numbers to be reported tomorrow and the June numbers to be reported in July are almost unbelievably similar.
From the Federal Reserve Bank of Cleveland, June 11:
Inflation, month-over-month percent change
Month CPI Core CPI PCE Core PCE Updated
June 2024 0.09 0.29 0.10 0.22 06/11
May 2024 0.08 0.30 0.10 0.23 06/11
....MUCH MORE, year-over-year and quarter-over-quarter change, methodology...
That 0.08% monthly rate annualizes out to just under 1% per annum, 0.96%. If only it would be so. But it won't.
