Still Crazy After 4 Years Of Biden/Harrisnomics! Core Consumer Prices (Inflation) Up For 50th Straight Month, Hits New Record High (Up 3.2% YoY)

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by confoundedinterest17

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

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…

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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%…

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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

A sad reminder about the impact of Biden/Harrisnomics on food prices.

Inflation is still crazy after 4 years of Biden/Harris. What will The Fed do?