December 2022 Inflation Numbers

And a few interesting surprises

People were so very bullish going into the CPI today. The consensus was for a 6.5% YoY CPI number.

The Core CPI consensus was leaning towards 5.7% from a previous level of 6%. ⬇️

What did we actually get?

The major numbers came out in line but there were a few surprises in the details, at least some that I personally, did not expect.

As you know, I’ve started to track the numbers closely on a MoM basis to try and guide us.

This isn’t about playing the market on CPI Day but rather a broader look at where the economy is heading.

Read on below for my analysis on the CPI and my views on the outlook.