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Big Four Chinese Bank to Launch Blockchain Bancassurance Product
Morning all, some possible talking points in markets today..
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From the archive: Australian national in Malaysian court on drugs charges
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Jancis Robinson on the best current champagne
Baltimore isnt done fighting over monuments
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Letter in the Times that shines a sharp light on Mays words and coats them in shame.
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.@PatChappatte on the German election.
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Seven arrested in Egypt after raising rainbow flag at concert
What was the criteria used in this least unhealthy list of countries? #Africa
Who is Frauke Petry, the AfDs controversial co-chair?
ONS: We continue to see small year-on-year improvements in average life satisfaction ratings.
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Oil demand may exceed supply by up to 4 million bpd by 2019: Trafigura
When will the economy start caring about home-care work? @AnnieLowrey asks:
Plenty of media outlets getting ready for the first AfD statement in the German Parliament #GermanyDecides #BTW17
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Zombie fleet swells as scammers fake registrations
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Kenyan Chief Justice Maraga in Dar es Salaam for Conference: #Tanzania #Kenya
Debt Rattle September 26 2017 | Puerto Rico goes cashless. Let it be a wake-up call for you
#Bali’s menacing #volcano puts some tourists’ plans on back burner
How the fishing industry gets away with everything, from illegal catches to human slavery
Indiana judge blocks anti-abortion law passed under Mike Pence
Nigerian President Returns After London Stopover #Nigeria
Kamaru Usman Knocks Out Sergio Moraes: #Nigeria
AfD: What you need to know about Germanys far-right party
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Gaming industry would face addiction levy under UK Labour plan via @ThomasWPenny
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Cowboys owner Jerry Jones kneels with team before national anthem
12 signs you have cracked the Spanish language
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Debt Rattle September 26 2017 | The only way out is subprime
Is momentum still a viable generating alpha strat? $XLF u know...
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Damascus says Syrian Kurdish autonomy negotiable: report
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Dancers From Seychelles Earn Invites to Peru, Slovakia: #Seychelles
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Want to fight inequality with design? Read these books now
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US denies declaring war on North Korea
China Solar and Wind Surges as Coal Peaks
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The gut microbes of modern hunter-gatherers reveal one big problem with your diet
Couple defy Hurricane Maria on roof to save pets - lots of them
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During the battle of Arnhem (17–26 September 1944) Audrey Hepburn served as a nurse at only 16 years old.
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Your Burger and Fries May Be Coming With a Side Order of Depression:
Perry tells climate hecklers that fossil fuels save lives via @AriNatter
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National Association of Evangelicals blasts GOP effort to repeal Obamacare
this has done me in for some reason
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Kurds celebrate in Arbil after referendum
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@alykhansatchu wonderful, heres another picture of Lake Magadi, by @50Treasures
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High turnout in Iraqi Kurdish independence vote despite pressure
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High-flying HNA Group comes back to earth as scrutiny hits dealmaking
North Korea accuses US of declaring war
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programmers needed (by 1975)
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Die $EUR
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The biggest diamond found in more than a century sells for $53 million
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Junk-free humanitarian news and analysis email alerts from @irinnews - SIGN UP here: :
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97-year-old WWII veteran takes a knee to support protesting NFL players
Good morning London
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Two Years After #Dieselgate – Guess What The EU Did About This Scandal?
Gym-goers are going crazy for supplements. Its time for a reality check
Deloitte cyberattack reportedly hit corporate, government clients
Austria’s 100-year bond may be the only one of its kind for now via @johnainger


Mike Shedlock

Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. He operates the blog MISH'S Global Economic Trend Analysis and believes in the Austrian School of economics.


BLS Reports Net Negative Inflation for 5 Months: Anyone Believe That?

2 months ago




Today the BLS reported the CPI was flat. The Econoday consensus was for a 0.1% rise.

Over the last five months, the CPI is -0.1%. Over the last four months, the CPI is -0.2%.

In what is one of the very weakest 4-month stretch in 60 years of records, core consumer prices could manage only a 0.1 percent increase in June. This is the third straight 0.1 percent showing for the core (ex food & energy) that was preceded by the very rare 0.1 percent decline in March. Total prices were unchanged in the month with food neutral and energy down 1.6 percent.

Housing, which is a central category, continues to moderate, also coming in at 0.1 percent following a 0.2 percent gain in May. Apparel is down for a fourth month in a row with transportation, reflecting falling vehicle prices, down for a second month. Medical care, which had been moderating, picked up with a 0.4 percent gain while prescription drugs which Janet Yellen has been citing for special weakness, bounced back with a 1.0 percent gain. However wireless telephone services, another area cited by Yellen for weakness, posted another sizable decline, down 0.8 percent in June.

Year-on-year, the core is steady at 1.7 percent with total prices, which fluctuate much more than the core, down 3 tenths to 1.6 percent. The Fed may be blaming this stretch of weakness on special factors, but that argument is losing force.

CPI June 2016 – June 2017

Percent Changes by Category

BLS Figures

  • All Items: Down -0.1% Net for last 5 months
  • Core CPI: Up net 0.2% over last 4 months
  • Fuel Oil: Down 5 consecutive months
  • Commodities excluding food and energy: Down 4 consecutive months
  • New Vehicles: Down 5 consecutive months
  • Used Vehicles: Down 6 consecutive months
  • Apparel: Down 4 consecutive months

Supposedly medical care services are up only 0.3% over the last four months. Medical care commodities are up a net 0.3% over the last five months.

Your results may vary.

Mike “Mish” Shedlock