New Inflation Data Tumbles Markets
Newly released inflationary data reports that inflation has remained near its 40-year high in August as the Consumer Price Index (CPI) rose 8.3%. This news sent markets tumbling this morning with the DOW seeing a 400-point deficient.
Inflation eased slightly for a second-straight month in August as consumer prices continue to moderate from the four-decade highs reached earlier this year. The inflation forecast was 8.1%, although it is higher than expected at 8.3%, this is a slight improvement from last month's report of 8.5%, resulting in a 2.4% drop month over month.
Gas and energy prices continue to decline but are outweighed by the increases in housing, food, and health costs. All of which account for the largest contribution to the monthly rise.
Track of all the latest inflation data and economic health of the markets at metrixfi.com