Thu, 11/12/2020 – 08:44
Core CPI was unchanged in October following an increase of 0.2 percent in September.
The indexes for airline fares, recreation, and new vehicles were among those to rise, while the indexes for motor vehicle insurance, apparel, and household furnishings and operations declined.
The used cars and trucks index, which had increased sharply in August and September, fell 0.1 percent in October.
More importantly for many Americans, shelter and rent inflation continued to slow…
- Shelter inflation 2.03% Y/Y, lowest since Feb 2012
- Rent inflation 2.67% Y/Y, lowest since Sept 2012
However, top-down, while goods prices continue to accelerate, it is the growth in the costs of services that continue to slow dramatically…
And we suspect will slow notably more if a Biden administration locks down the economy for six weeks.
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Author: Tyler Durden