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...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
