CPI

Surging food, gas and energy prices all contributed to the gain, with fuel oil up 106.7% over the past year. Shelter costs, which comprise about one-third of ...

The paper asserts that the current inflation predicament is closer to the 1980s situation than it appears because of differences in the ways that CPI is computed then and now. With 75 basis points of interest rate rises already under its belt, markets widely expect the Fed to continue tightening policy through the year and possibly into 2023. ... I struggle to see how the Fed can back off." May's report likely solidifies the likelihood of multiple 50 basis point interest rate increases ahead. Real wages when accounting for inflation fell 0.6% in April, even though average hourly earnings rose 0.3%, according to a separate BLS release. The 5.5% 12-month gain is the most since February 1991. Excluding volatile food and energy prices, so-called core CPI was up 6%, slightly higher than the 5.9% estimate. New vehicle prices rose 1% in May. On a 12-month basis, real average hourly earnings were down 3%. Core inflation excluding food and energy rose 6%. Both were higher than expected. "Obviously, nothing is good in this report," said Julian Brigden, president of MI2 Partners, a global macroeconomic research firm. Friday's numbers dented hopes that inflation may have peaked and adds to fears that the U.S. economy is nearing a recession.

U.S. consumer prices accelerated in May to the highest since 1981, as Americans grapple with a surge in the cost of gas, food, and shelter, data showed ...

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The increase in the consumer price index in May was more than triple the gain in the prior month. Economists polled by The Wall Street Journal had forecast a ...

“U.S. inflation sped up in May, with nearly every item zooming higher, and another big core jump suggests the peak might be some ways off. The big worry on Wall Street is that inflation is shifting to services from goods. More bad news: Gas prices rose again in June and hit a record high. Either approach would be bad for the economy. The longer that goes on the more strain it will place on American households and hurt the economy. The central bank also risks inducing a recession in its effort to quell inflation. Speculation about a rate-hike “pause” in the fall looks farfetched. The last time inflation rose as rapidly was in 1981. Shelter costs account for a third or more of a typical household budget. Prices are likely to show another big increase in June. Gas prices have jumped again to record highs. Economists polled by The Wall Street Journal had forecast a 0.7% advance.

NEW YORK (Reuters) - U.S. consumer prices accelerated in May as gasoline prices hit a record high and the cost of services rose further, suggesting th...

There’s very little good news in today’s inflation data, and it’s causing stocks another market sell off today.” “It likely cements a 50 basis point at least the next two to potentially the next three meetings with the highest inflation since 1981.” And a peak will just have to wait.””This does little to give the Fed cover to not be as aggressive. “Disposable income will be cut back and obviously it all point to recession. “While we don’t expect a recession this year and have been positioning accordingly, there is much to be concerned about in terms of higher interest rates, higher volatility, and lower liquidity. Many hopes for a peak are now dashed as the reality that higher energy prices continue to impact overall inflation. This likely suggests the Fed will continue to be quite hawkish to combat the seemingly never ending string of higher inflation that we continue to see.” Today’s consumer price index (CPI) numbers were even worse than expected with a 8.6% year-over-year increase, the highest of the entire year, and even core inflation came in higher than expected at 6.0% vs. “Inflation this past month was certainly hotter than expected and a reminder that inflation will be with us for longer than we previously expected. It’s not going to happen.” FOREX: The dollar index rose to a three-week high after the CPI data. The bear market is really about valuation so far because of rising bond yields. The consumer price index increased 1.0% last month after gaining 0.3% in April, the Labor Department said.

U.S. consumer prices accelerated in May as gasoline prices hit a record high and the cost of services rose further, suggesting that the Federal Reserve ...

Register now for FREE unlimited access to Reuters.com "Disposable income will be cut back and obviously it all point to recession. Register now for FREE unlimited access to Reuters.com The consumer price index increased 1.0% last month after gaining 0.3% in April, the Labor Department said. Register now for FREE unlimited access to Reuters.com