EIA and CPI
EIA Inventory
Gasoline +1.3M barrels, minor draws in crude and distillates, oil fell below $69 a barrel.
CPI +0.6% vs prior Core CPI +0.3% vs prior +0.3%, back to back.
Inside the number: Over 12 months, CPI +3.5%, up from 3.4% on a year-on-year basis in March. Over the same period, core CPI +2.3%, up from 2.1% in the previous month.
So far this year: "guvmint" inflation @ 5.1% annual rate. This compared with a 3.4% rate for all of 2005. Core CPI +3.0%, following a 2.2% rise for all of 2005. Also, medical care +5.5% and transportation +13.3% annual, so far....
Energy +3.9%, Fuel oil +5.2%, the largest gain since September 2005. Gasoline +8.8%. Over the past year, energy +17.8%, gasoline +21.5%.
For a better read on real inflation, CPI-U +0.9% & CPI-W +1.0% x 12 = 12% annual, pretty close to our estimates of 11.5-12% "real" inflation, and the "guvmints" very own PCE which is also SMOKIN at an 11.5% annual inflation rate.
Can you say no Fed pause, thats good, I knew you could. Full Report
Gasoline +1.3M barrels, minor draws in crude and distillates, oil fell below $69 a barrel.
CPI +0.6% vs prior Core CPI +0.3% vs prior +0.3%, back to back.
Inside the number: Over 12 months, CPI +3.5%, up from 3.4% on a year-on-year basis in March. Over the same period, core CPI +2.3%, up from 2.1% in the previous month.
So far this year: "guvmint" inflation @ 5.1% annual rate. This compared with a 3.4% rate for all of 2005. Core CPI +3.0%, following a 2.2% rise for all of 2005. Also, medical care +5.5% and transportation +13.3% annual, so far....
Energy +3.9%, Fuel oil +5.2%, the largest gain since September 2005. Gasoline +8.8%. Over the past year, energy +17.8%, gasoline +21.5%.
For a better read on real inflation, CPI-U +0.9% & CPI-W +1.0% x 12 = 12% annual, pretty close to our estimates of 11.5-12% "real" inflation, and the "guvmints" very own PCE which is also SMOKIN at an 11.5% annual inflation rate.
Can you say no Fed pause, thats good, I knew you could. Full Report
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