Consorti: US inflation slowdown is a methodology change, not real disinflation

• —Methodology changes in the August report cut core inflation by about 0.3 percentage points
• —July core inflation was revised down from 3.3% to 3.0%, making August's 3.0% effectively flat
• —Odds of an October rate hike fell from 75% to 35%
• —Bitcoin is up 43% since June 30 even as 10-year Treasury yields climbed from 4.4% to 5.3%