2024-07-13 00:15:00 ET
Summary
- Core CPI, which excludes volatile food and energy prices, increased 0.1 percent.
- The energy component of the CPI fell 2.0 percent in June. Gasoline in particular is down 3.8 percent.
- Market rates are not only above natural-rate estimates. They are significantly above that estimate.
By Alexander William Salter
The Federal Reserve is trying to engineer a gradual disinflation. It is getting outright deflation. The Bureau of Labor Statistics reported that the Consumer Price Index (CPI) decreased 0.1 percent in June. Consumer prices have grown 3.0 percent over the last year, which is the lowest 12-month rate since March 2021....
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Consumer Prices Decline In June