Inflation in the USA has delivered a negative surprise. The year-on-year inflation rate was 3.4%, and the month-on-month rate was 0.3%. In both instances, the readings exceeded expectations of 3.2% and 0.2% respectively. The reading of core inflation, however, was in line with expectations of 0.3% month-on-month but slightly above the forecasted 3.9% year-on-year (the forecast was 3.8%).
In the wake of this slightly negative revelation, the US dollar, US government bonds, as well as futures contracts on US indices – all reacted to the inflation data without major changes.
Szymon Gil, Broker of Michael / Ström Dom Maklerski.
