US CPI YoY (OECD MEI, legacy) in 2015
US CPI YoY (OECD MEI, legacy) opened 2015 at -0.09% and closed at 0.73%, a +916.49% move for the year. The high of 0.73% was reached on December 1, and the low of -0.20% on April 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | -0.09% | -0.09% | -0.09% | -0.09% | +0.00% |
| Feb | -0.03% | -0.03% | -0.03% | -0.03% | +0.00% |
| Mar | -0.07% | -0.07% | -0.07% | -0.07% | +0.00% |
| Apr | -0.20% | -0.20% | -0.20% | -0.20% | +0.00% |
| May | -0.04% | -0.04% | -0.04% | -0.04% | +0.00% |
| Jun | 0.12% | 0.12% | 0.12% | 0.12% | +0.00% |
| Jul | 0.17% | 0.17% | 0.17% | 0.17% | +0.00% |
| Aug | 0.20% | 0.20% | 0.20% | 0.20% | +0.00% |
| Sep | -0.04% | -0.04% | -0.04% | -0.04% | +0.00% |
| Oct | 0.17% | 0.17% | 0.17% | 0.17% | +0.00% |
| Nov | 0.50% | 0.50% | 0.50% | 0.50% | +0.00% |
| Dec | 0.73% | 0.73% | 0.73% | 0.73% | +0.00% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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