The inflation rate accelerated again. It implies a more hawkish Fed and is bad for gold in the short-run, but good in the long-term. Q2 2022 hedge fund letters, conferences and more The core CPI, which excludes food and energy, rose by 0.7% in June, after increasing by 0.6% in the preceding two months. Almost all major sub-indexes increased over the month, which indicates that inflation is broad-based. If anyone hoped that the annual rates were better, I don’t have good news. Over the last 12 months, the CPI increased 9.1% in June, following an 8.5% increase in the previous month. It was the l…