According to yesterday’s Consumer Price Index (CPI) release from the Bureau of Labor Statistics (BLS), overall consumer prices were unchanged in July, that does not indicate that inflation is over. On a year-to-year basis, inflation in July was up 8.5 percent from July 2021. Excluding energy and food, the “core” prices that the Fed monitors increased 0.3 percent in July, for an annualized year-ago increase of 5.9 percent. Below shows the overall CPI inflation rate year-over-year for each month of 2022 compared to the last five years’ annual rate of inflation.
Essentially the June spike in energy prices was eliminated from the monthly change in CPI. Energy prices, which dropped 4.6 percent in July (after a 7.5 perc...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
