AI
Tuesday, June 13, 2023 12:24:14 PM
May CPI for all items came in at .1% which sounds good but the fall in energy prices accounted for this as the core CPI is still at .4% or 4.8% if extrapolated out to a yearly basis. The chart below from BLS shows how sticky core inflation has been over the last year. I expect the Fed will say inflation is moving in the right direction but the fight is not over.
Changes over the last 12 months
Gasoline down 19.7%
Fuel oil down 37%
Nat gas down 11%
Transportation services up 10.2%
Changes over the last 12 months
Gasoline down 19.7%
Fuel oil down 37%
Nat gas down 11%
Transportation services up 10.2%
The stock market is a device for transferring money from the impatient to the patient. - WB
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