The CPI – Consumer Price Index for July is out. Overall inflation increased by 0.2% lower than expectation of 3.2%.

The Core rate, which takes out food and energy prices also increased by 0.2%, again inline with estimates. Shelter costs rose but slowing down.

Initial Jobless Claims rose 21,000 to 248,000 but the Continuing Claims dropped 8,000 to 1.68M.

Rates are taking this with a grain of salt as we wait for more data this week and for the Feds September meeting.