Core Consumer Prices Surge 5.0% YoY At Fastest Rate Since 1992

• Core Consumer Prices Surge 5.0% YoY At Fastest Rate Since 1992
  by Tyler Durden, https://www.zerohedge.com/
  With the world’s eyes having moved on from China’s rip-roaring PPI (and post-data decision to unleash price controls), this morning’s CPI print has been heralded as the arbiter of “is it transitory or not” with some (BofA) even suggesting we are nearing a period of “transitory hyperinflation.” The answer for now is – inflation’s still accelerating as headline CPI soared 5.0% YoY (hotter than the +4.7% expected). That is the highest level of inflatuion since Aug 2008.
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  But it is core CPI that is the huge outlier, soaring 3.8% YoY – the hottest level of inflation since 1992… Goods prices are up 6.5% YoY – the highest since 1982 – and services prices are also accelerating significantly.
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