Having accelerated MoM for the past four months, analysts expected today's CPI print (for November) will rise once again to +0.3% MoM and they were dead on (the biggest MoM rise since April). The 0.3% MoM rise pushed headline CPI up 2.7% YoY - the highest since July...

Core CPI also rose 0.3% MoM (as expected) which pushed it up 3.3% YoY (not even close to the 2% mandate)...

There has not been a single monthly decrease in core consumer prices since Biden too office.

There is a silver lining however, with so-called SuperCore CPI - Services Ex Shelter - rising just 0.19% MoM which leaves it +4.3% YoY (the lowest inflationary print since Dec 2023)...

Services inflation continues to slow (but remains very hot) as goods deflation is rapidly reversing...

On a three-month annualized basis, it is only energy's deflation that is holding CPI back from a much bigger surge with Food Costs up nearly 4%...

The index for all items less food and energy rose 0.3 percent in November, as it did in the preceding 3 months.

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

With money supply on the rise again, it should be no surprise that inflation is also rising phoenix-like from the ashes of a pre-election money tsunami...

Amid all the rancor of the election campaigns about how voters are clueless as to just how good they've got it - which was echoed by Jared Bernstein this morning on CNBC - Americans (as a whole) have seen real incomes drop 3.3% in the four years since Biden was elected (and up just 2% since the start of COVID)...

Of course, this includes EVERY American and is adjusted by EVERY item in the BLS CPI basket... how about we adjust nominal incomes for what really matters - food and fuel costs?

Finally, strong employment and resurgent inflation 'data' is not the kind of 'data' that a 'data dependent' Fed needs to justify rate-cuts next week? Or is this resurgence transitory?

Is this what Trump is about to inherit?
{ai:summary}The Consumer Price Index (CPI) for November rose 0.3% month-over-month, marking the highest increase since April, with a year-over-year rise of 2.7%. Core CPI also increased by 0.3% MoM and 3.3% YoY, indicating persistent inflation, particularly in shelter and food costs.Despite rising prices, SuperCore CPI showed a slight improvement, rising just 0.19% MoM, the lowest inflation since December 2023. Overall, inflation remains a concern as real incomes have declined for Americans since Biden took office, raising questions about the Federal Reserve's potential rate cuts. #economy

Re-Inflation Continues - November Consumer Prices Surge Most Since April

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