The US CPI data came in at 8.3% this morning, increasing by 0.1% from July to August and the stock market fell over 2% immediately after being up in premarket.
US inflation has increased despite energy dropping by over 5% and this is particularly worrying because key components like food and shelter are spiralling out of control with Food at home increasing by 13.5% in the last 12 months.
The 2022 stock market crash may not be over just yet as inflation is showing to be more resilient than the Fed would like to admit.
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