Employment and Inflation: The Double Whammy

As much as the big miss in employment was a shock on Friday May 7, the May 12 CPI data turned out to be a double whammy.  April headline CPI came in at +0.8% M/M, while market consensus was +0.2%, another huge miss by market forecasters.  Y/Y CPI was  +4.2%, up significantly from March’s 2.6% […]