- Weekly: **Unemployment Initial Claims Data have been revised**
- US: Housing Starts by State and Region (Feb)
- CPB World Trade Monitor (Jan)
- CPB World Trade Monitor (Jan)
- France: Registered Unemployed & Job Vacancies (Feb)
- US: Household Employment for States and Regions (Feb)
- US: Wholesale Trade Revisions, Advance Durable Goods (Feb)
- Manufacturing Survey - Markit US (Flash - Mar), Composite Survey - US (Flash - Mar), Services Survey - US (Flash - Mar)
- more updates...
Economy in Brief
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
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|