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Zero Hedge
ZeroHedge
13 Nov 2024


NextImg:Core Consumer Prices Rise For 53rd Straight Month, Hit New Record High

For the 53rd straight month, core consumer prices rose on a MoM basis in October with the YoY pace re-accelerating to +3.33%...

Source: Bloomberg

Services costs are starting to pick up again...

Source: Bloomberg

The index for all items less food and energy rose 0.3 percent in October, as it did in August and September.

The index for all items less food and energy rose 3.3 percent over the past 12 months.

The headline CPI rose 0.2% MoM (as expected) which reaccelerated the YoY rise to +2.6% (as expected)...

Source: Bloomberg

Goods deflation ended on a MoM basis...

Source: Bloomberg

While Goods prices are still in deflation, they are re-acclerating and Services inflation remains extremely elevated...

Source: Bloomberg

Under the hood, the much-watched (for a while) SuperCore (Services Ex-Shelter) CPI remains stubbornly high...

Source: Bloomberg

The deflationary pressures are easing...

Source: Bloomberg

On a short-term basis, it's energy's deflation that is doing God's work for Biden/Harris/Powell..

Source: Bloomberg

Overall, headline consumer prices are up 20.4% since Biden/Harris took over (that is almost three times the pace of price inflation that was seen under Trump's first term)...

Source: Bloomberg

Is a resurgence in CPI already baked in the cake (as global money supply has been resurgent)?

Source: Bloomberg

Finally, could we really replay the '70s once again?

Source: Bloomberg

Will that really be Powell's legacy? Or will the timing of this resurgence in inflation be perfectly timed to coincide with Trump's election victory... and offer a perfect patsy for who is to blame?