There was a lot of interesting economic data released this week showing month over month changes that indicate the economy is picking back up – albeit raggedly. After three straight months of declines, the June consumer price index (CPI) rose 0.6 percent; that is the largest monthly increase since 2009. The increase was led by key food and fuel. Take out the impacts of food and energy, and the core inflation rate was 0.2 percent in June. The all food index was up 0.6 percent, driven mostly by meat and proteins. Beef prices led the way, up 4.8 percent. The CPI formula for the meat, poultry, fish and eggs category accounts for 1.836 percent of the CPI.
Much of the June retail price level was influenced by retailer...
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...