---
title: The most important number of the day was US CPI number.
description: "Inflation in August declined to its lowest level since February 2021, according to a Labor Department report Wednesday that also showed a key measure higher than expected, setting the stage for an expected quarter percentage point rate cut from the Federal Reserve.\nIndeed, while the headline CPI increased 0.2% for the month, in line with the Dow Jones consensus, the core CPI, which excludes volatile food and energy prices, increased 0.3% for the month, slightly higher than the 0.2% estimate. \n\nThe slight uptick in core CPI keeps the Fed on defense against inflation, likely negating the probability of a more aggressive interest rate when policymakers meet next Tuesday and Wednesday.\n\nHere are the details: \n-> CPI 0.2% MoM (or 0.187% unrounded), Exp. 0.2% - in line\n-> CPI Core 0.3% MoM (or 0.281% unrounded), Exp. 0.2% - hotter than expected. Note that was the 51st straight month of MoM increases in Core CPI, and a new record high.\n\nThe annual prints:\n-> CPI 2.5% YoY, Exp. 2.5% - in line. The annual CPI increase is the lowest since February 2021...\n-> CPI Core 3.2% YoY, Exp. 3.2% - in line\n\nLast, but not least, and perhaps most ominous of all, is that while the Fed is about to start cutting rates, Supercore CPI rose 0.33% MoM (see chart below), the biggest monthly increase since April, driven by continued acceleration in transportation services, which jumped the most in 5 months.\n\nSource: www.zerohedge.com, Bloomberg"
---

[Syz The Moment](https://blog.syzgroup.com/syz-the-moment)

# [The most important number of the day was US CPI number.](https://blog.syzgroup.com/syz-the-moment/will-keep-this-one.-for-the-difficult-times-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-1-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-1)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Sep 12, 2024, 2:42:10 PM

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