It's The Economy Stupid: CPI. Inflation???

Economic Event	Period	Economic Survey	Actual Reported	Original Prior	Revised Prior
Consumer Price Index MoM	JUN	0.3%	0.5%	0.1%
CPI Ex Food & Energy MoM	JUN	0.2%	0.2%	0.2%
Consumer Price Index YoY	JUN	1.6%	1.8%	1.4%
CPI Ex Food & Energy YoY	JUN	1.6%	1.6%	1.7%
CPI Core Index SA	JUN	223.597	233.643	233.267
Consumer Price Index NSA	JUN	223.431	233.504	232.945
Industrial Production	JUN	0.3%	0.3%	0.0%	0.0%
Capacity Utilization	JUN	77.7%	77.8%	77.6%	77.7%
Manufacturing Production	JUN	0.2%	0.3%	0.1%	0.2%

 

CPI surprised on the upside, exceeding economists’ estimates.  But that’s not to say inflation is raging.  Far from it.  CPI is at a 1.8% annual rate.  1.6% ex food & energy.  Inflation ain’t our problem.

 

Industrial Production, Capacity Utilization, and Manufacturing Production were all pretty much in line with economists’ expectations. 

 

This morning’s releases produced yawns for all the way around.  Gonna need some dark roast to get going this morning.

 

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

225-342-0013

jbroussard@treasury.state.la.us