Core Consumer Prices Hit New Record High – Up For 50th Straight Month

August 14, 2024

Core Consumer Prices Hit New Record High – Up For 50th Straight Month

Following last month’s ‘deflationary’ print (-0.1% MoM), analysts expected headline CPI to rise 0.2% MoM and they were spot on, shifting the YoY CPI print to 2.9% (from 3.0%) – the lowest since March 2021…

Source: Bloomberg

Goods deflation continues to drag overall CPI lower…

Source: Bloomberg

The 3m and 6m annualized CPI rates continue to trend lower (with Energy a particularly volatile factor)….

Source: Bloomberg

Core CPI also rose 0.2% MoM (as expected), and the YoY rate of inflation slowed to 3.2% (from 3.3%) – the lowest since April 2021…

Source: Bloomberg

While Core CPI is slowing YoY, the Core goods deflation appears to have stalled…

Source: Bloomberg

However, that is the 50th straight month of MoM increases in Core CPI, and a record high…

Source: Bloomberg

Under the hood, used car prices fell 2.3% along with airline fares (-1.2%) while Car insurance costs jumped 1.2% and furniture prices rose 0.3%…

Source: Bloomberg

Finally, the so-called SuperCore CPI rose 0.2% MoM (same as the rest), dragging the YoY down to 4.73% (still notably elevated)…

Source: Bloomberg

Transportation Services jumped notably MoM..

Source: Bloomberg

So, is this ‘good’ news or bad news?

Tyler Durden
Wed, 08/14/2024 – 08:43

https://www.zerohedge.com/personal-finance/core-consumer-prices-hit-new-record-high-50th-straight-month

Core Consumer Prices Hit New Record High – Up For 50th Straight Month <body> <h1> Array ( [0] => xore consumer prices hit new record high – up for 50th straight month [1] => vore consumer prices hit new record high – up for 50th straight month [2] => fore consumer prices hit new record high – up for 50th straight month [3] => dore consumer prices hit new record high – up for 50th straight month [4] => cire consumer prices hit new record high – up for 50th straight month [5] => ckre consumer prices hit new record high – up for 50th straight month [6] => clre consumer prices hit new record high – up for 50th straight month [7] => cpre consumer prices hit new record high – up for 50th straight month [8] => c0re consumer prices hit new record high – up for 50th straight month [9] => c9re consumer prices hit new record high – up for 50th straight month [10] => coee consumer prices hit new record high – up for 50th straight month [11] => code consumer prices hit new record high – up for 50th 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[63] => core consumer orices hit new record high – up for 50th straight month [64] => core consumer lrices hit new record high – up for 50th straight month [65] => core consumer -rices hit new record high – up for 50th straight month [66] => core consumer 0rices hit new record high – up for 50th straight month [67] => core consumer peices hit new record high – up for 50th straight month [68] => core consumer pdices hit new record high – up for 50th straight month [69] => core consumer pfices hit new record high – up for 50th straight month [70] => core consumer ptices hit new record high – up for 50th straight month [71] => core consumer p5ices hit new record high – up for 50th straight month [72] => core consumer p4ices hit new record high – up for 50th straight month [73] => core consumer pruces hit new record high – up for 50th straight month [74] => core consumer prjces hit new record high – up for 50th straight month [75] => core consumer prkces hit new record high – up for 50th 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montj [316] => core consumer prices hit new record high – up for 50th straight montu [317] => core consumer prices hit new record high – up for 50th straight monty ) </h1> </body>