Recent Updates
- France: **France Wages and Earnings Rebased to Q2-2017=100**
- Flash PMIs: Japan, France, Germany, Euro Area, US (Sep)
- Canada: CPI (Aug), Retail Trade (Jul)
- Canada Regional: CPI by Province (Aug), Retail Trade by Province (Jul)
- Norway: International Reserves (Aug), Government Debt (Q2); Finland: Quarterly Sector Accounts, Government Balance (Q2); Denmark: Property Price Indexes (Q2); Iceland: Wage Index (Aug)
- Turkey: IIP & Intl Reserves (Jul); South Africa: Retail Survey (Q4); Mauritius: PPI (Jun); Lebanon: CPI (Aug)
- more updates...
Economy in Brief
EMU Sinks on New Flash PMI Readings
The EMU PMI sank to its cyclical low in mid-2016 then hit its cycle higher in 2018...
U.S. Financial Accounts See Borrowing Ease with Downswing in Federal Government Needs
Borrowing in U.S. financial markets slowed in Q2 2018...
U.S. Leading Economic Indicators Increase
The Conference Board's Composite Index of Leading Economic Indicators increased 0.4% (6.4% y/y)...
U.S. Existing Home Sales Hold Steady
The National Association of Realtors reported that sales of existing homes during August were unchanged at 5.340 million (SAAR, -1.5%)....
Philadelphia Fed Factory Conditions Improve; Prices Weaken Again
The Philadelphia Fed that its General Factory Sector Business Conditions Index rose to 22.9 during September...
Special Topics
by Tom Moeller August 16, 2005
Consumer prices (CPI-U) rose 0.5% last month following no change in June and a 0.1% decline in May. Consensus expectations had been for a 0.4% July increase.
Energy prices jumped 3.8% led by a 6.1% (19.5% y/y) increase in gasoline prices to an average $2.29 per gallon. In August gasoline prices have risen further to $2.55 per gallon. Fuel oil prices also posted a strong 6.2% (34.3% y/y increase while natural gas prices gained 1.1% (7.1% y/y) and have strengthened further this month..
Less food & energy prices rose 0.1% for the third consecutive month. Consensus expectations had been for a 0.2% increase.
Core goods prices, down 0.3%, fell for the third month in the last four led by a 1.0% (+0.3% y/y) decline in new vehicle prices. Appliance prices fell 0.5% (+2.0% y/y) and apparel prices tumbled 0.9% (-1.9% y/y), down hard for the third month in the last four.
Core services prices rose 0.3% as medical care services prices doubled the gain in June with a 0.4% (4.8% y/y) increase. Public transportation prices jumped 1.0% (5.5% y/y) and school tuition costs gained 0.6% (6.6% y/y). Shelter prices rose 0.3% (2.5% y/y).
The chained CPI which adjusts for shifts in the mix of consumer purchases rose 0.4% but less food & energy chain prices were unchanged.
| Consumer Price Index | July | June | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Total | 0.5% | 0.0% | 3.1% | 2.7% | 2.3% | 1.6% |
| Total less Food & Energy | 0.1% | 0.1% | 2.1% | 1.8% | 1.5% | 2.3% |
| Goods less Food & Energy | -0.3% | -0.2% | 0.4% | -0.9% | -2.0% | -1.1% |
| Services less Energy | 0.3% | 0.2% | 2.8% | 2.8% | 2.9% | 3.8% |
| Energy | 3.8% | -0.5% | 14.2% | 10.9% | 12.2% | -5.9% |
| Food | 0.2% | 0.1% | 2.2% | 3.4% | 2.1% | 1.8% |
| Chained CPI: Total (NSA) | 0.4% | -0.1% | 2.6% | 2.3% | 2.0% | 1.3% |
| Total less Food & Energy | 0.0% | -0.2% | 1.8% | 1.5% | 1.1% | 1.9% |
