Core CPI Soars At Fastest Pace Since 2008

After producer prices disappointed modestly yesterday, prompting treasury yields to tumble, all eyes are on consumer prices today as it met expectations rising by 2.9% YoY - the fastest rate of increase since Dec 2011 - thanks to soaring rent/shelter costs.

CPI highest since 2011...

Core CPI highest since 2008...

Under the covers, one of the bigger drivers was a surge in shelter costs...

Shelter inflation rose 3.5% YoY and Rent Inflation rose 3.6% YoY

Just a good thing wages are rising... oh wait!!

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