bullish
Inflation Surprises as Commodities Rip Higher
SUMMARY
- Last week’s inflation data surprised market participants on the upside. CPI YoY: 3,2% vs. 3,1% estimate. Core CPI m/m: 0,4% vs 0,3% estimated
- Even larger was the upside surprise in the PPI data. Friends of the 70s double-dip inflation scenario will probably love this chart.
- Take a closer look at the 70s and how inflation recovered before it take of in the late 70s for another rip higher.
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