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July CPI 0.3%, Beats Expectations On Higher Energy Prices; Advanced Retail Sales Worse Than Expectations
July US CPI reported at 0.3%, versus expectations of 0.2%, and a prior -0.1%, most of it coming from increasing energy prices. Year over Year was 1.2%, in line with expectations. The inflation-and-deflation theme continues. CPI ex food and energy was up 0.1%, also inline with expectations, and slightly lower than June's 0.2%. From the release: "The energy index posted its first increase since January and accounted for over two thirds of the seasonally adjusted all items increase. Both the gasoline and household energy indexes turned up in July after a series of declines. The food index, in contrast, declined in July, largely due to the fourth consecutive decline in the fruits and vegetables index." Full release here. Elsewhere, advance retail sales missed expectations, meaning another GDP adjustment lower to come, pushing Q2 GDP further into sub 1% territory. "The U.S. Census Bureau announced today that advance estimates of U.S.
retail and food services sales for July, adjusted for seasonal variation
and holiday and trading-day differences, but not for price changes,
were $362.7 billion, an increase of 0.4 percent (±0.5%)* from the
previous month, and 5.5 percent (±0.5%) above July 2009." The expectation was for a 0.5% increase. Retail sales ex-autos was 0.2% (exp of 0.3%, prior at -0.1%), while retail sales ex auto and gas came at -0.1%, also worse than consensus of 0.1% (previous revised upward to 0.2%).
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v shaped... or maybe ^ shaped
Deleted.
I believe they forgot the negative sign on the 0.1%. Massage those numbers!!!
Interesting tidbit is that it looks like people are putting off their healtcare needs and fun to buy more iPads
NEED MOAR iPADS!!!!!
I am putting off all my health care needs until ObamaCare is in full effect!
In order to achieve our goal of becoming a 3rd world country, it's important that the cost of all the things you have to buy increases while your income concurrently decreases.
We are well on our way currently.
and i dnt think we will be out of there...when the BUBBLE the world is now ends ...it will be pretty clear
Why do we not yet have a "this was a victory for the bulls" .gif?
victory for sprinkle farting unicorns.
CPI increasing at a close to 4% rate is why our Fed Chairman must be so worried about deflation. 4% is nuttin - he wants double digits - minimum
Exactly, the debt will not go away on its own
That only works if you quit adding new debt.
Nah, by keeping CPI down low, transfer payment increases are kept down. It's all about massaging the figures, keeping the real inflation rates hidden.
jim rickards
Gets it
Becky does not
http://www.cnbc.com/id/15840232?video=1565551307&play=1
Breaking News. Becky doesn't "get it".........again.
I'm surprised that at times the CNBC "personalities" aren't madly spinning around like an out of control top considering the underlying corporate agenda of positive spin combined with a steady stream of Bulltards to reinforce the spin. Of course, to try to maintain the appearance of credibility, they bring in someone like Rosenberg this morning to promote the other side.
Speaking of Rosenberg, David was on from 7 to 9 this morning. I always enjoy the near speechless moments when Rosenberg is talking facts and figures and the morning crew is desperately searching their brains for any scrap of propaganda they can throw in front of Rosenberg's tidal wave. Becky at one point was staring with her mouth open, eyes glazed over. Priceless!
Becky's main talent is being able to lock her ankles behind her neck on cue!
Time to load up on the grapes.
If only I could get a few scantily clad women to feed them to me.
You get the grapes, I'll start sloshing the gas on everything, we'll both look for the women.
Anyone got a fiddle?
David Rosenberg debates the normal bullish themes on CNBC
Also Jim Rickards speaking about how the investing now is like living in an Alice in Wonderland existence.
[Video] The Bull v Bear Debate: David Rosenberg v Richard Hoey ... Plus Some Jim Rickards
Just saw this headline over on Bloomberg:
"Consumer Prices in U.S. Climb Most in a Year, Easing Deflaction Concerns"
Ah yes, deflaction. I guess this ends the inflation/deflation debate eh? Deflaction!
'Deflaction'? Uh oh, theyre throwing made-up words at us now! Everyone to the bunkers!
In order to provide context, please use "deflacted" in a sentence.
The last time I deflacted, I had to swing into a Walmart and buy new pants.
Do these governmental LOSERS actually except us to BELIEVE any of this shit? They must be believing their own Illuminati crap too much, not EVERYONE is a Lindsay Lohan obsessed moron in this country, some of us actually know theyve been full of shit all along and the economy is in ruins!
Mr Barry Soetoro, Denial is not a river in Egypt.
Nobody cares about the CPI or any demand pull inflation.
The real inflation is the currency veriety that the Euro experinced in early June. When the Euro went from 1.5 to 1.2, that is currency inflation.