Heterodox
July consumer inflation: a tale of two disparate trends – by New Deal democrat Consumer prices were unchanged in July, as two very disparate trends canceled out one another. YoY prices increased 8.5%, below June’s multi-decade record of 9.0%: The two disparate trends are shown in the below bar graph of monthly changes since the end of last year. On the one hand, energy prices (red) declined -4.6% in July; but owner’s equivalent rent (gold)...
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