Consumer prices snapped back in June, rising the most since 2012, as states began to reopen their economies. While gasoline accounted for much of the 0.6% increase in the Labor Department’s index, the price of that and other goods are still down from a year ago as the pandemic stalls growth, suggesting that overall inflation will remain in check. Grocery prices, however, climbed an annual 5.6% — the most since 2011 — as Americans continued to eat at home.
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Coupled with the immense government deficits building up in the U.S., could this be an early sign of dramatic inflation in 2021? #CPI #deficit #gasoline #groceries #inflation #2021
A very interesting read. This is a bit beyond my expertise as I'm not an economist or investment advisor, but it seems like the article suggests (lots of) caution. What do you think? https://lnkd.in/egFgX9t
The underlying trend still suggests inflation would remain muted and allow the Federal Reserve to keep injecting money into the ailing economy to combat the fallout from the pandemic.
Today’s key data: US June CPI was stronger than expected on a sharp rebound in energy prices and another solid increase in food prices. Apparel and hotel prices rebounded after COVID-related declines in April and May. The headline index rose by 0.6%, stronger than the 0.5% gain expected (+0.6% y/y), while core CPI rose 0.2%, compared with the 0.1% forecasted gain (+1.2% y/y). Energy prices rose by 5.1% in the month, with gasoline prices up 12.3% (+10.0% NSA). CPI excluding only the energy price jump was up 0.3%. Food prices rose by 0.6% on a 0.7% gain in prices of food at home, while food away from home rose by 0.5%. Within the core, the owners’ equivalent rents category rose by 0.1%, while lodging away from home rose 1.2% after large declines in April and May when many hotels were fully shutdown. Apparel prices rose by 1.7% after declines in the previous two months. #data #prices
Powered by Adobe Analytics, our latest Digital Economy Index reveals US consumers continued to move more of their shopping online, June generating a record $73.2 Billion in total spend, up a massive 76.2% YoY. With physical stores reopening and online prices currently higher this year compared to last, fast, intuitive and seamless online shopping experiences are more important than ever. Local insights coming soon! #AdobeAnalytics #Commerce https://adobe.ly/3eq4qKX