CPI April 2008

Summary: Headline reads, CPI looks a bit more manageable...

under the sheets the seasonally unadjusted CPI-W screamed at +0.7% while the chained CPI-U jumped +0.5%.

CPI Apr +0.2% vs +0.3% Full Report

Inside the number: Core CPI Apr +0.1% vs +0.2%. Table 4: CPI-W vs April 2007...

Energy Commodities +22.4%; Gasoline +20.9%; Energy +16.2%; Non Durables less food, beverages & apparel +13.2%; Dairy +11.8%; personal computers -12.9%.

Table 5: CPI-W Annual % increase 6 months ended April 2008...

Energy commodities +30.5%; Gasoline +28.1%; Energy +23.4%; non durables less food, beverages & apparel +21.1%;

Cereals & bakery +13.7%; fats & oils +19.4%; transportation +10%; hospital +7.2%; education +6.1%; personal computers -10.3%.

We gently repeat one of our mantras:

Do not go out and drive, stay in your bunker, eat nothing, surf the web, watch reality TV, its just getting better all the time.

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