Analysts noted that while both the overall CPI and core CPI monthly changes were in line with expectations, the actual index levels of these two metrics helped bring down the year-over-year CPI reading to 2.9%, which is the lowest level since March 2021. Notably, despite an increase in housing inflation from 0.2% last month to 0.4% this month, the overall super-core services inflation (excluding housing) rose by 0.21% this month. This increase was relatively moderate but higher than the slight decline seen in the previous two months. Overall, these data align with the trend of slowing inflation rates over the past few years, without any sudden stop in price growth. Analysts pointed out that the current CPI data does not seem sufficient to prompt the Federal Reserve to take a more significant interest rate cut at its next policy meeting, i.e., a 50 basis point cut. This could be one reason for the recent rise in short-term bond yields.