Increasing Inflation

The Y-o-Y increase in June CPI is 9.1%, up from May’s 8.6%, the worst reading since 11/81’s 9.6%. Core CPI is behaving arguably better, it’s up 5.9% Y-o-Y and has been falling since March, but worryingly M-o-M numbers are getting steadily worse! These lousy readings will keep the Fed aggressively raising rates; thus, the yield curve continues flirting with inversion, suggesting recession. Ideally inflation peaks ASAP and falls fast.