CPI Inflation Report: What to Expect—and How the Release Will Affect the Fed and Interest Rates

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YoY: Consumer prices increased by 2.9% vs. 2.8% expected

MoM: 0.4% increase vs. 0.3% expected

Core YoY: 3.2% increase vs. 3.3% expected

Core MoM: 0.2% increase vs. 0.3% expected

Market reaction: Stock futures rallied; bond yields fell

Fed impact: Odds of multiple interest-rate cuts in 2025 are rising