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
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