This report shows the relevant data of the Consumer Price Index (CPI) in the United States in August, including month-on-month and year-on-year data. The analysis is as follows:
1. US CPI MoM (%):
- Actual value: 0.2%, in line with expectations (0.2%), unchanged from the previous value.
- This indicates that the overall inflationary pressure in the United States remains stable, with no significant changes in CPI over the past month.
2. US Unadjusted CPI YoY (%):
- Actual value: 2.5%, in line with expectations (2.5%), but lower than the previous value (2.9%).
- This indicates that the overall annual inflation rate in the United States has declined, reflecting a slowdown in the rate of price increases.
3. USA Core CPI MoM (%):
- Actual: 0.3%, higher than expected (0.2%), the same as the previous value.
- Core CPI excludes the volatility of food and energy prices, so a higher-than-expected value implies potential high inflation pressure, which may lead to market expectations of future monetary policy tightening.
4. USA Core CPI YoY (%):
- Actual: 3.2%, consistent with expectations, the same as the previous value.
- Core inflation rate remains stable, indicating that the speed of price increases for non-food and energy commodities has not changed.
5. USA Non-Seasonally Adjusted CPI Index (Value):
- Actual: 314.80, slightly lower than expected (314.98), but higher than the previous value (314.54).
This indicates that the actual price level has risen slightly but is lower than expected, reflecting that prices are still on an upward trend in August.
6. US seasonally adjusted core CPI index (value):
- Actual value: 319.77, slightly higher than the previous value (318.87).
- The increase in core CPI index reflects that the price level, after excluding food and energy price fluctuations, is still rising.
7. US real personal income growth rate (%)(monthly basis):
- Actual value: 0.5%, higher than the expected value (-0.2%), and the previous value was -0.2%.
- This indicates a significant increase in income for US residents in August, which could support consumer spending and economic growth.
【Summary:】
Overall, CPI data shows that inflationary pressure in the USA has weakened, especially with the annual rate decreasing. However, the higher-than-expected core CPI indicates that there is still pressure on the prices of essential goods and services. At the same time, an increase in residents' income may support consumption to some extent, reflecting the resilience of the economy. These data may have a subtle impact on the monetary policy of the Federal Reserve. Although overall inflation has eased, core inflation remains stubborn, which may prompt decision-makers to adopt a more cautious approach.
- Actual value: 0.2%, in line with expectations (0.2%), unchanged from the previous value.
- This indicates that the overall inflationary pressure in the United States remains stable, with no significant changes in CPI over the past month.
2. US Unadjusted CPI YoY (%):
- Actual value: 2.5%, in line with expectations (2.5%), but lower than the previous value (2.9%).
- This indicates that the overall annual inflation rate in the United States has declined, reflecting a slowdown in the rate of price increases.
3. USA Core CPI MoM (%):
- Actual: 0.3%, higher than expected (0.2%), the same as the previous value.
- Core CPI excludes the volatility of food and energy prices, so a higher-than-expected value implies potential high inflation pressure, which may lead to market expectations of future monetary policy tightening.
4. USA Core CPI YoY (%):
- Actual: 3.2%, consistent with expectations, the same as the previous value.
- Core inflation rate remains stable, indicating that the speed of price increases for non-food and energy commodities has not changed.
5. USA Non-Seasonally Adjusted CPI Index (Value):
- Actual: 314.80, slightly lower than expected (314.98), but higher than the previous value (314.54).
This indicates that the actual price level has risen slightly but is lower than expected, reflecting that prices are still on an upward trend in August.
6. US seasonally adjusted core CPI index (value):
- Actual value: 319.77, slightly higher than the previous value (318.87).
- The increase in core CPI index reflects that the price level, after excluding food and energy price fluctuations, is still rising.
7. US real personal income growth rate (%)(monthly basis):
- Actual value: 0.5%, higher than the expected value (-0.2%), and the previous value was -0.2%.
- This indicates a significant increase in income for US residents in August, which could support consumer spending and economic growth.
【Summary:】
Overall, CPI data shows that inflationary pressure in the USA has weakened, especially with the annual rate decreasing. However, the higher-than-expected core CPI indicates that there is still pressure on the prices of essential goods and services. At the same time, an increase in residents' income may support consumption to some extent, reflecting the resilience of the economy. These data may have a subtle impact on the monetary policy of the Federal Reserve. Although overall inflation has eased, core inflation remains stubborn, which may prompt decision-makers to adopt a more cautious approach.
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