CPI numbers.

You love to see it. Headline CPI was unchanged in May- 0%. Led by a decline in gasoline prices.

Core CPI month to month was 0.2%. (equal to a 2% annualized rate- exactly the Fed's target rate).

Both lower than expectations.

Broad cooling in both services and goods.

Food was only 0.1% month to month.

However shelter inflation remained at 0.4% month to month.