Today's data is the first since the change of director of the Bureau of Labor Statistics. The Cleveland Fed's data is more accurate, but the difference isn't significant. Broad inflation hasn't continued to rise, remaining at 2.7% the same as last month. The monthly CPI rate declined slightly, while core inflation rose both on an annual and monthly basis. The annual core rate, in particular, exceeded market expectations, likely due to a sharp increase in used car prices. Overall, this data isn't particularly encouraging. Although the CPI hasn't risen, the Fed focuses on core inflation, which is core PCE. Since food and energy data aren't included during this period, the core CPI is more important. This isn't a good indicator for the Fed's interest rate cuts.