Economic News Release: CPI Inflation May 2023

Before the release by the BLS, consensus for CPI Inflation was +0.2% Month over Month (MoM), Core Month over Month (MoM) of 0.4%, and +5.3% Core Year over Year (YoY) for May 2023.

The initial actual CPI Inflation was reported at 8:30 by the BLS was +0.1% Month over Month (MoM), Core Month over Month (MoM) of 0.4%, and +5.3% Core Year over Year (YoY) for May 2023.

CPI Month over Month (MoM)

CPI Core Month over Month (MoM)

CPI Core Year over Year (YoY)

A significant aspect of the report was shelter. It was the largest contributor to the monthly all items increase, followed by an increase in the index for used cars and trucks. The Food index also increased …

TABLE A of Percent Changes in CPI in CPI by Category

We tend to make decisions as to a ‘stance’ via “a Baysian decision spline” methodology. Therefore, as stated previously, we believe we need to see more data before making any change in our stance …