- Korea: Housing Price Index (Apr)
- US: Consumer Sentiment (Apr-final), GDP (Q1 Adv), ECI (Q1)
- Consumer Sentiment Detail (Apr-final)
- US: Selected NIPA Tables (Q1-Adv), Summary key Source Data (Q1)
- Canada: GDP by Industry (Feb), Industrial Product Prices (Mar)
- *Taiwan National House Price Indexes Rebased to 2016=100.*
- Euro area: HICP (Apr-Flash), ECB Survey of Professional Forecasters (Q2)
- Italy: CPI, HICP (Apr-Prelim)
- Brazil: Sao Paolo Capacity Utilization (Mar);Mexico: Debt (Mar);
- more updates...
Economy in Brief
U.S. Employment Cost Index Has Stronger Gain
Lifted by outsized rises in several industries, the employment cost index for civilian workers rose 0.8% (2.4% y/y) during Q1'17...
Chicago Purchasing Managers Index Strengthens
The Chicago Purchasing Managers Business Barometer Index for April increased to 58.3 from 57.7 in March...
EMU Money and Credit Perk Up
There is some noticeable acceleration in EMU money and credit growth...
Durable Goods Orders Improvement Moderates
New orders for durable goods rose 0.7% (4.5% y/y) during March...
U.S. Initial Claims for Unemployment Insurance Increase
Initial unemployment claims for unemployment insurance rose to 257,000 during the week ended April 22...
U.S. Pending Home Sales Ease
The National Association of Realtors (NAR) reported that pending home sales slipped 0.8% ((+0.8% y/y) during March...
by Tom Moeller July 15, 2016
Strengthening energy prices continue to be offset by moderate inflation elsewhere. The June Consumer Price Index increased 0.2% (1.0% y/y), the same as during the prior month. These gains follow of a 0.4% April rise. A 0.3% increase had been expected in the Action Economics Forecast Survey. Prices excluding food & energy also rose a stable and expected 0.2%. The y/y increase strengthened, however, to 2.3%, up from 1.6% early last year.
Energy prices increased 1.3% (-9.4% y/y) as gasoline costs strengthened 3.3%, up 16.6% from February. Fuel oil prices rose 3.3% (NSA, -19.6% y/y). Electricity prices fell 0.5% (-1.8% y/y) while natural gas costs eased 0.4% (-5.0% y/y).
Declines in non-energy goods prices were widespread last month. Used car & truck prices fell 1.1% (-3.1% y/y), down for the fourth straight month. Recreation product prices declined 0.9% (-3.4% y/y) while apparel prices fell 0.4% (+0.4% y/y), off for the third month in the last four. Furniture costs were 0.3% lower (-2.1% y/y), and they've been falling since September. New vehicle prices eased 0.2% (-0.4% y/y), down for the fourth straight month. Moving higher were prices for medical care products by 1.1% (3.2% y/y) after a 0.2% dip.
Services prices strengthened 0.3%, and the y/y rise of 3.2% was up from a 0.9% gain during all of 2010. Shelter prices increased 0.3% (3.5% y/y). The owners equivalent rent of primary residences also increased 0.3%, with the 3.2% y/y gain up from little change in 2010. Medical care services prices rose 0.2% (3.8% y/y) following a 0.5% rise. Recreation services strengthened 0.6%, the 3.3% y/y increase up from 1.8% in 2014. Tuition costs improved 0.4%, but the 2.9% y/y increase was down from its 7.1% peak in 2004. Transportation services prices rose a steady 0.3% (3.0% y/y).
Food prices eased 0.1% (+0.3% y/y) following a 0.2% decline. Egg prices were off 5.7% (-26.9% y/y) and meat prices eased 0.3% (3.9% y/y). Dairy product prices fell 0.3% (-2.2% y/y) while fruit & vegetable prices eased 0.1% (-2.2% y/y). Nonalcoholic beverage prices declined 0.7% (-0.5% y/y). Cereal & bakery product prices improved 0.1% (-0.4% y/y).
The consumer price data is available in Haver's USECON database while detailed figures can be found in CPIDATA. The expectations figure is from Action Economics and is found in the AS1REPNA database.
Global Demographic Trends Shape Policy Environment from the Federal Reserve Bank of Dallas is available here.
|Consumer Price Index, All Urban Consumers (%)||Jun||May||Apr||Jun Y/Y||2015||2014||2013|
|Total less Food & Energy||0.2||0.2||0.2||2.3||1.8||1.7||1.8|
|Goods less Food & Energy||-0.2||-0.2||-0.1||-0.6||-0.5||-0.3||-0.0|
|Services less Energy||0.3||0.3||0.3||3.2||2.6||2.5||2.4|