MBS MID-DAY: Holding Ground After Morning Sell-Off

* Headline CPI +0.6 this month vs +0.5 consensus
* Core CPI +0.1 vs +0.2 consensus
* Core CPI + 0.0521 annually vs +0.2 consensus
* Inflation adjusted earnings -0.6 vs -0.3 consensus

The Consumer Price Index for All Urban Consumers (CPI-U) increased
0.6 percent in August on a seasonally adjusted basis, the U.S. Bureau
of Labor Statistics reported today. Over the last 12 months, the all
items index increased 1.7 percent before seasonal adjustment.

The seasonally adjusted increase in the all items index was the
largest since June 2009. About 80 percent of the increase was
accounted for by the gasoline index, which rose 9.0 percent and was
the major factor in the energy index rising sharply in August after
declining in each of the four previous months.

The food index increased 0.2 percent in August, with major grocery
store food group indexes mixed. The index for all items less food and
energy rose 0.1 percent for the second month in a row. The indexes
for shelter, medical care, personal care, new vehicles, and
recreation all rose in August. These increases more than offset
declines in the indexes for used cars and trucks, apparel, household
furnishings and operations, and airline fares.

The 12-month change in the index for all items was 1.7 percent in
August, an increase from the July figure of 1.4 percent. The index
for all items less food and energy rose 1.9 percent for the 12 months
ending August, a slight decline from the 2.1 percent figure in July
and its smallest increase since July 2011.

Article source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/274701.aspx

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