Mohacsy's Safe Portfolio Member Forum

[santafe2]

CPI for all items rose 1.3% or 15.6% on a yearly basis. The CPI less food and energy rose .7% or 8.4% on a yearly basis. Neither is even close to good news. The premarket moved from slightly positive very negative. DOW down 1%, SPX 1.5%, NASDAQ 2%. I suspect we'll get another 75bp raise in overnight rates.

This month's inflation is tied to a one month 11.2% rise in gasoline prices which drove up transportation costs 2.1%. Since the early June peak price oil has dropped over 20% and is now $95 a barrel.