The Bureau of Labor Statistics (BLS) released the CPI for July this morning. The CPI was up 0.2 percent for the month and 2.7 percent year-over-year. The rate was down from 0.3 percent in June and steady with the year-over-year of 2.7 percent at the end of June. However, the core CPI, which the Fed monitors, rose faster at 0.3 percent in July and 3.1 percent year-over-year, the fastest annual pace in five months.
Perhaps more telling, the CPI for services was up virtually across the board. Transportation services were up 0.8 percent, hospital services were up 0.5 percent, medical care services were up 0.8 percent month-over-month in July. Airline fares were up 4 percent, the largest increase in three years, and dental services were u...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
