Consumer Sentiment & Import Export Prices Jun

Summary: Headline reads consumer sentiment edged up in July,

under the sheets... future expectations dropped to a 28 year low.

Headline reads US import prices exceed forecasts, under the sheets...

double digit stagflation rages on with the largest annual gain on record +20%.

Mich Sentiment-Prel. Jul 56.6 vs 56.4 Full Report

Inside the number: Still near its historic low. Future expectations dropped to 48.3 vs 49.2, the lowest since 1980.

Brian Bethune, director of financial economics at Global Insight:

"Household net worth is getting hammered by declining house prices, declining equity prices, and the cost of fuel and energy has spiked."

Export Prices ex-ag. Jun +0.9% vs +0.3% Full Report

Inside the number: Yoy +6.4%; All exports +1% vs +0.4%; Yoy +8.6%; Export prices ag +2.2% vs +0.2%; Yoy +33%;

Import Prices +2.6% vs +2.6%; Yoy +20.5%; Petroleum +7.4% vs +8.9%; Yoy +78.6%; Imports ex-oil +0.9% vs +0.7% Yoy +7.3%

We gently repeat one of our mantras: ANYONE claiming that inflation is less than double digits is a paid liar, a fool or both.