Core Consumer Prices Come In Hot - Rise At Fastest Rate In 6 Months

Following yesterday's hotter than expected PPI, Core Consumer Prices printed above expectations (+1.8% YoY vs +1.7% YoY exp) - the fastest rise since April 2017.

 

Headline CPI was in line with expectations at 2.0% - a slight slowing from last month...

 

The biggest driver of the increase in consumer prices was a 2.3% surge in fuel prices

The shelter index rose 0.3 percent, with the indexes for rent and owners' equivalent rent also rising 0.3 percent. The index for lodging away from home continued to increase, rising 1.6 percent.

The medical care index rose 0.3 percent, with the index for hospital services rising 0.5 percent and the physicians' services index increasing 0.2 percent. However, the index for prescription drugs declined 0.2 percent.

The index for used cars and trucks rose in October, increasing 0.7 percent; this ended a streak of nine consecutive declines. The tobacco index rose in October, increasing 1.6 percent. The education index increased 0.3 percent, and the index for wireless telephone services rose 0.4 percent. The indexes for personal care, airline fares, and motor vehicle insurance also increased in October.

The index for new vehicles continued to decline, falling 0.2 percent in October after a 0.4-percent decrease in September. The index for apparel declined 0.1 percent in October, the same decline as in September; the recreation index also fell 0.1 percent. The index for household furnishings and operations was unchanged in October after declining in 5 of the 6 prior months.

 

Comments

Pigeon E.F. Mutton Wed, 11/15/2017 - 08:51 Permalink

Exactly - just one example. Cups of yogurt. Used to be standard 8 ounces. Then dropped to 6. Currently (for a few years) 5.35.3 ounces? What could the logic be behind that number other than to fuck over the public into not realizing it's getting less for more?Chocolate rations will increase from 8 ounces to ONE-QUARTER POUND.

In reply to by E.F. Mutton

Pigeon Wed, 11/15/2017 - 08:48 Permalink

I thought stuff like fuel, shelter and food didn't count in CPI thanks to circa Jimmy Carter years? It's not like anyone really needs that shit, anyway.

small axe Wed, 11/15/2017 - 08:51 Permalink

these numbers will be exactly the same in 10 years, when a loaf of bread is $20.good thing we'll all be on new hypertension drugs to control high blood pressure due to outrage

Al Huxley Wed, 11/15/2017 - 08:51 Permalink

What happened?  Did they accidentally let something everybody uses (like food, or gas, or housing) get into their index calculations this month?  Sloppy boys, really sloppy - where's your fucking hedonic substitutions?

konadog Wed, 11/15/2017 - 12:12 Permalink

Stagflation. It does a country good.This is a public service message brought to you by the US Federal Reserve, the MIC, and the Ad Council.