USA Cleveland CPI (MoM) For January 0.5% Vs 0.3% Prior
Portfolio Pulse from Benzinga Newsdesk
The Consumer Price Index (CPI) in Cleveland, USA, for January increased by 0.5%, compared to the previous month's increase of 0.3%.
February 13, 2024 | 5:41 pm
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The increase in Cleveland's CPI may lead to concerns about inflation, potentially impacting the SPDR S&P 500 ETF Trust (SPY).
Higher-than-expected CPI figures often lead to inflation concerns, which can negatively impact investor sentiment towards broad market ETFs like SPY. The increase from 0.3% to 0.5% might cause some investors to reassess their positions in the market, potentially leading to a short-term negative impact on SPY's price.
CONFIDENCE 75
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RELEVANCE 70