The August Consumer Price Index (CPI) report was roughly in line with estimates. The index rose 0.2% from July and 2.5% from a year ago, both matching the...
The August Consumer Price Index report was roughly in line with estimates. The index rose 0.2% from July and 2.5% from a year ago, both matching the consensus estimate from Bloomberg. Core CPI, which strips out more volatile food and energy prices, rose 0.3% from the prior month, a touch hotter than the expected 0.2%. Year-over-year, core CPI rose 3.2%, matching estimates. One of the big factors propping up inflation is housing, which is a market that remains tight.
I just wanna dig in to some of the components here, the index for shelter and, of course, month after month.That was the main factor, the BLS says, for the all items increase here, but looking and digging a little bit deeper here, as you look through some of the indexes that actually rose the most during the month as well or increased during a, I guess including shelter.They ultimately contributed to that.And this was interesting indexes for used cars and trucks, household furnishings.
So not as many people buying lazy boys and couches, perhaps, or at least pushing back on the pricing there and then additionally, Medicare communication and recreation, also among those that decreased over the months.I think a lot of that has to do with that core CP I month over month print of a rise of 3/10 of a percent, a bit hotter than expected.When you bring up the debate between 25 and 50 basis point cut and you take a look at that hotter than expected month over month print.
It would make it a bit more tougher, I think, to argue for a 50 basis point cut here at the meeting next weekInside A Wildfire: Astonishing Footage Shows 'Airport Fire' Raging In California. This astonishing timelapse footage captured by UC San Diego's ALERTCalifornia's camera network shows what it's like to be inside the Orange County 'Airport Fire' as it reached their monitoring station at Santiago Peak on the night and morning of 9 and 10 September 2024.
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