Group 1 - The Consumer Price Index (CPI) in the U.S. rose by 0.4% month-on-month in August, exceeding market expectations of 0.3%, marking the largest monthly increase since February [1] - Year-on-year, the CPI increased by 2.9%, aligning with expectations but up 0.2 percentage points from July [1] - Core CPI, excluding volatile food and energy prices, rose by 0.3% month-on-month and 3.1% year-on-year, consistent with previous months and market expectations [3] Group 2 - Food prices increased by 0.5% month-on-month and 3.2% year-on-year, while energy prices rose by 0.7% month-on-month and slightly by 0.2% year-on-year [3] - Housing costs, which account for about one-third of the CPI, grew by 0.4% month-on-month, the largest increase this year, and 3.6% year-on-year [3] Group 3 - The labor market in the U.S. shows signs of weakness, with initial jobless claims rising to 263,000, significantly above the expected 235,000, reaching the highest level since October 2021 [5] - This increase in jobless claims may indicate rising layoffs, suggesting a potential turning point in the employment market [5] - Federal Reserve officials have indicated that if inflation approaches the 2% target in the coming months, monetary policy should be more flexible in response to potential rapid deterioration in the labor market [5] Group 4 - Market expectations for a Federal Reserve interest rate cut have intensified, with traders anticipating a greater than 90% probability of a 25 basis point cut in the upcoming meeting [7] - There is a consensus that current interest rates are still restrictive to the economy, prompting the Fed to consider a more accommodative stance in light of weakening employment data and dual inflation risks [7]
新加坡华侨投资基金管理有限公司：通胀环比加速上升，美国8月CPI数据释放矛盾信号
Sou Hu Cai Jing·2025-09-14 14:42