Recent Updates
- Euro area: Flash Consumer Confidence (Oct), ECB Banking Lending Survey (Q4)
- US: Philadelphia Fed Nonmfg Business Outlook (Oct); Richmond Fed Mfg & Service Sector Surveys (Oct)
- Spain: Bank Lending Survey (Q4), International Trade Summary, Construction Permits (Aug)
- Macao: Visitor Arrivals (Sep)
- Singapore: Housing & Development Board Annual Report (2017)
- South Africa: Leading Indicators (Oct)
- Romania: Central Bank Balance Sheet, MFI Deposits,
- more updates...
Economy in Brief
U.S. Energy Prices Ease
Gasoline prices fell four cents last week to an average $2.84 per gallon (+14.6% y/y)...
FIBER: Industrial Commodity Prices Fall Further
The FIBER Industrial Materials Price Index declined 1.3% during the last four weeks...
Japan’s METI Sector Indexes Rebound But Still Lag
Japan's economy continues to fight for revival...
U.S. Existing Home Sales Continue to Weaken, Dragging Down Prices
The NAR reported that sales of existing homes during September declined 3.4% to 5.150 million...
Canadian Retail Sales Weaken As Inflation Slows
Canada's retail sales show relatively widespread deceleration...
by Tom Moeller CPI Total & Core Up 0.2% July 18, 2007
The June consumer price index (CPI-U) was up 0.2%, a moderation from the 0.7% increase in May.The rise was a bit faster than Consensus expectations for a 0.1% increase.
Prices less food & energy rose 0.2%, in line with expectations. The rise was up slightly from the 0.1% rise during May but the same as the average monthly increase during the first half of 2007.
Core goods prices fell 0.1% for the fourth consecutive month. Lower apparel prices account for much of that weakness with a 0.6% (-1.4% y/y) decline in June after a 0.3 fall in May. In the durables sector, new & used motor vehicles rose 0.1% (-2.0% y/y) while household furnishings & operation prices rose 0.1% (0.1% y/y).
Core services prices rose just 0.3% (3.4% y/y). Medical care prices rose 0.2% (4.0% y/y) but computer & services prices fell 1.8% (-16.6 y/y). Shelter prices rose 0.4% (3.7% y/y).
Energy prices fell 0.5% (+4.6% y/y led by the 1.1% (+5.0% y/y) drop in gasoline prices. They already have fallen another 2.0% in July but the latest weekly figure shows a rebound. Fuel oil prices rose 1.9% (1.0% y/y) and natural gas and electricity fell 0.1% (+4.5% y/y).
Food & beverage prices rose 0.5% (4.0% y/y) led by a 3.2% (6.6% y/y) increase in dairy products.
The chained CPI, which adjusts for shifts in the mix of consumer purchases, rose 0.2% (2.3% y/y) and the core figure was unchanged (1.8% y/y).
| Consumer Price Index | June | May | Y/Y | 2006 | 2005 | 2004 |
|---|---|---|---|---|---|---|
| Total | 0.2% | 0.7% | 2.7% | 3.2% | 3.4% | 2.7% |
| Total less Food & Energy | 0.2% | 0.1% | 2.2% | 2.5% | 2.2% | 1.8% |
| Goods less Food & Energy | -0.1% | -0.1% | -0.8% | 0.2% | 0.5% | -0.9% |
| Services less Energy | 0.3% | 0.3% | 3.4% | 3.4% | 2.8% | 2.8% |
| Energy | -0.5% | 5.4% | 4.6% | 11.1% | 16.9% | 10.8% |
| Food & Beverages | 0.5% | 0.3% | 4.0% | 2.3% | 2.4% | 3.4% |
| Chained CPI: Total (NSA) | 0.2% | 0.4% | 2.3% | 2.9% | 2.9% | 2.5% |
| Total less Food & Energy | 0.0% | 0.0% | 1.8% | 2.3% | 1.9% | 1.7% |
