Inflation in the US has exceeded expectations for the third consecutive month, driven by increases in essential commodities such as oil, electricity, takeaway food, and medical costs.
Despite a 3.8% year-on-year rise in CPI, it’s notable that this figure has decreased from its previous 9% high.
The robust CPI and economic growth numbers suggest a positive outlook for US corporate earnings.
The S&P500 has seen five 1% drops this year, all of which were met with investors buying the dip.
