Thursday, August 14, 2008

Inflation at 17 year high


The U.S. Department of Labor reported the inflation numbers for July today. Before seasonal adjustments, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.53% in July over June and was 5.60% higher than July 2007.  The year over year rate of CPI is the highest since January 1991. Core CPI (CPI less food and energy) before seasonal adjustments was up by 0.23% compared to May and up 2.51% compared to a year ago. Seasonally adjusted, CPI-U rose 0.82% over June, twice as much as expected, and core CPI rose 0.33% instead of 0.2% expected by economists. The surge in CPI-U was driven by energy prices. Energy increased 4.0% in July over June.  Crude Oil futures have come down recently so this should alleviate some of the inflation pressures.


Digg my article

Sphere: Related Content

2 comments:

Jack Miller said...

Thank you for the well produced and timely charts. You did one of the Ted Spread in December of 07 that was revealing. I would love to see an update.

It would also be wonderful to see long bond rates or S&P averages overlaid.

Many thanks, Jack

Hiroshi Hishida said...

I posted an update.

http://financialsight.blogspot.com/2008/08/update-on-ted-spread.html

Thank you for the comments and the idea for the update.