Didn’t I tell you the stock market would explode this week?

We talked last week about how the tiniest piece of good news about inflation could cause the stock market to erupt. Well, the eruption has taken place and it’s all due to a tiny reduction in inflation.

According to CNBC:

Prices that consumers pay for a variety of goods and services rose 8.5% in July from a year ago, a slowing pace from the previous month due largely to a drop in gasoline prices.

On a monthly basis, prices were flat as energy prices broadly declined 4.6% and gasoline fell 7.7%. That offset a 1.1% monthly gain in food prices and a 0.5% increase in shelter costs.

Economists surveyed by Dow Jones were expecting headline CPI to increase 8.7% on an annual basis and 0.2% monthly.

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#StockMarket #Inflation

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