This morning, I was eager to see the latest Consumer Price Index (CPI) report—yes, I know, I need a more exciting life.

Here are the key takeaways:

• Inflation rose 0.2%, lower than the 0.3% expected.
• Year-over-year inflation slowed from 3.0% to 2.8%.
• Energy and food prices increased, while gas prices declined, but energy services rose.
• Eggs alone accounted for two-thirds of the inflation increase.
• Core inflation dropped from 3.3% to 3.1%, better than expected.
• Airline fares fell 4.0%, driven by lower demand and energy costs.
• Shelter, which makes up 44% of the Core Index, rose 0.28%, but came in lower than expected.

There’s a lot to unpack here—lower inflation, tariffs possibly stabilizing (or not), and a stock market that seems to be finding its footing.

I anticipated a rate drop today, but instead, the market remained motionless—like a sleeping dog.