A.M. Update – Energy Prices Behind Cooler Than Expected CPI

S&P futures are up +0.9% following a c0oler than expected CPI. Total CPI was flat in May (consensus 0.1%) following a 0.3% increase in April. On a YoY basis, headline CPI rose 3.3% (less than the 3.4% consensus expectation.) You might guess what was behind the flat headline print. ..Energy was the biggest drag on…