CPI, Housing Starts, Building Permits
Building Permits +2145K vs prior +2216K, for a 3.2% decrease. Housing Starts +2120K vs prior +2303K , for a 7.9% decrease. Both showing a decided slowing in the housing market.
Total CPI +0.2% vs prior +0.7%. Core CPI +0.1% vs prior +0.2%. Due to a large drop in Feb energy costs.
Inside the number: Total CPI YOY +3.6%, Feb energy costs -1.2% vs Jan +5% & YOY +20.1%, food +0.1% vs prior -0.5% & YOY +2.8%.
Medical +0.5% vs Jan 0.1% & YOY +4%, shelter +0.4% vs Jan +0.1%, airline fares +1.2% vs Jan +1.2%.
Education YOY +2.6%, transportation YOY +5.8%. Thus far in 2006 annualized energy +24.7%, petroleum energy products +31.7%, food +3.5%.
In summary, energy, education, shelter, food, medical, transportation and airline fares all INCREASED. But, there isn't any inflation, is there?
The market cheered this delusion and the Feds efficient use of the CPI to manage its and the publics at large inflation fears.
Another sterling example of the sound byte generation's total inability to read between the lines and decipher the bullshit from reality.
Full Report
Total CPI +0.2% vs prior +0.7%. Core CPI +0.1% vs prior +0.2%. Due to a large drop in Feb energy costs.
Inside the number: Total CPI YOY +3.6%, Feb energy costs -1.2% vs Jan +5% & YOY +20.1%, food +0.1% vs prior -0.5% & YOY +2.8%.
Medical +0.5% vs Jan 0.1% & YOY +4%, shelter +0.4% vs Jan +0.1%, airline fares +1.2% vs Jan +1.2%.
Education YOY +2.6%, transportation YOY +5.8%. Thus far in 2006 annualized energy +24.7%, petroleum energy products +31.7%, food +3.5%.
In summary, energy, education, shelter, food, medical, transportation and airline fares all INCREASED. But, there isn't any inflation, is there?
The market cheered this delusion and the Feds efficient use of the CPI to manage its and the publics at large inflation fears.
Another sterling example of the sound byte generation's total inability to read between the lines and decipher the bullshit from reality.
Full Report
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