{"id":1476684,"date":"2024-07-11T12:39:02","date_gmt":"2024-07-11T16:39:02","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1476684"},"modified":"2024-07-11T12:39:02","modified_gmt":"2024-07-11T16:39:02","slug":"consumer-prices-deflated-most-since-covid-lockdowns-in-june-core-prices-continue-to-rise","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/consumer-prices-deflated-most-since-covid-lockdowns-in-june-core-prices-continue-to-rise\/1476684\/","title":{"rendered":"Consumer Prices ‘Deflated’ Most Since COVID Lockdowns In June; Core Prices Continue To Rise"},"content":{"rendered":"

Consumer Prices ‘Deflated’ Most Since COVID Lockdowns In June; Core Prices Continue To Rise<\/span><\/p>\n

\n

Expectations for more ‘evidence’ of a return to disinflationary trends were high heading into today’s CPI and they were more than satisfied by a 0.1% MoM decline in headline consumer prices in June<\/strong> (below the +0.1% MoM exp) – the biggest MoM drop since May 2020<\/strong>. That pulled the headline YoY CPI down to +3.0%…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Core CPI also ‘missed’, rising just 0.1% MoM (vs +0.2% exp), dragging the YoY Core CPI down to +3.27% – its lowest since April 2021…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

We do note that Core consumer prices have still not seen a single monthly decline since Bidenomics began.<\/strong><\/p>\n

<\/a><\/strong><\/p>\n

The much-watched SuperCore CPI rose on a MoM basis but declined (back below 5.0%) on a YoY basis (but obviously remains extremely elevated)…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

July rate cuts are back on the table?<\/em><\/strong><\/p>\n

Finally, we can’t help but get a sense of deja vu all over again here. What if… The Fed cuts (because bad – recession – data), Biden loses (because dementia), and inflation re-accelerates (just like in the 80s)…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Who do you think gets the blame for the re-inflation? Well, ‘economists’ have already begun claiming Trump’s tariff plan will prompt spiralling higher prices… so we have our answer.<\/p>\n

There are no coincidences in Washington.. or Washington-based data.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nThu, 07\/11\/2024 – 08:39<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/consumer-prices-deflated-most-covid-lockdowns-june-core-prices-continue-rise<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Consumer Prices ‘Deflated’ Most Since COVID Lockdowns In June; Core Prices Continue To Rise Expectations for more ‘evidence’ of a return to disinflationary trends were…<\/p>\n","protected":false},"author":0,"featured_media":1476685,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1476684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-6c9u","jetpack_featured_media_url":"https:\/\/bugaluu.com\/news\/wp-content\/uploads\/sites\/3\/2024\/07\/bfm2202-JCVxtf.jpeg","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1476684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1476684"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1476684\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1476685"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1476684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1476684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1476684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}