It's The Economy Stupid: CPI/Inflation...the sky is not falling

Economic Event	Period	Economic Survey	Actual Reported	Original Prior	Revised Prior
Consumer Price Index MoM	FEB	0.5%	0.7%	0.0%
CPI Ex Food & Energy MoM	FEB	0.2%	0.2%	0.3%
Consumer Price Index YoY	FEB	1.9%	2.0%	1.6%
CPI Ex Food & Energy YoY	FEB	2.0%	2.0%	1.9%
Consumer Price Index NSA	FEB	232.482	232.512	232.108
CPI Core Index SA	FEB	232.102	232.166	230.280

 

CPI (a proxy for inflation) is at 2.0% annual.  That’s about it.

 

What?  I need to say more?

 

The Bloomberg survey of economists pegged the CPI Ex Food & Energy YoY number at 2.0%.   Yay for them!

 

I guess you could say that looking at the February CPI monthly number that the cost of living in the U.S. rose more than projected by economists due to the biggest jump in gasoline prices in more than three years. However, one must point out that gas prices have retreated this month signaling that inflation will hover around this level.

 

So far, no bigee.