The BLS CPI report shows an event that is quote infrequent. A negative Core CPI.

  • The Consumer Price Index for All Urban Consumers (CPI-U) declined 0.4 percent in March on a seasonally adjusted basis, the largest monthly decline since January 2015.
  • The index for all items less food and energy fell 0.1 percent in March, its first monthly decline since January 2010.
  • The energy index fell 5.8 percent as the gasoline index decreased 10.5 percent. The food index rose in March, increasing 0.3 percent as the food at home index rose 0.5 percent.
  • The indexes for airline fares, lodging away from home, and apparel, the index for new vehicles declined in March.
  • The index for shelter was unchanged, with increases in the indexes for rent and for owners’ equivalent rent offsetting the decline in the index for lodging away from home.
  • Indexes that increased in March include medical care, used cars and trucks, motor vehicle insurance, and education.
  • The index for all items less food and energy rose 2.1 percent over the last 12 months. The food index rose 1.9 percent over the last 12 months, while the energy index declined 5.7 percent.

CPI Month-Over-Month and Year-Over-Year

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April rates to be very interesting.

I expect big declines in many categories.

Consumers welcome these lower prices. The fools at the Fed don't, which is why we have huge bubbles that just burst.

Mike "Mish" Shedlock

Import Prices Flat, Export Prices Decline 0.5%

The strong dollar dampers the tariff impact on import prices except energy. Export prices decline led by agriculture.

CPI Declines 0.1% Month-Over-Month on Falling Energy Prices

The presumably "vital" BLS is still up and running in the shutdown. It reports a benign CPI this month.

Producer Prices Unexpectedly Decline

The Producer Price Index (PPI) for final goods unexpectedly declined in July. The PPI fell 0.1% as did the core PPI which excludes food and energy. THe Econoday consensus expected a 0.1% gain.

Curious September Energy Decline in CPI, With Crude and Gas Futures Rising

The BLS says the energy index declined 0.5 percent in September, but the price of crude rose. Overall the CPI rose 0.1%.

Consumer Spending +0.2% Prices +0.4%: Real Spending Declined 0.1%

Personal income rose 0.4% in January, but consumers only spent half of the boost.

CPI Jumps 0.41% in March: Gasoline, Up 6.5%, Core CPI Up 0.15%

The CPI jumped 0.4% in March but core CPI, excluding food and energy only rose 0.1%.

Import Prices Decline, Export Prices Rise: Impact on 1st Quarter GDP Estimates?

The BLS report on Import and Export Prices shows prices of imports declined 0.2% in March following increases in each of the 3 previous months.

Agricultural Export Prices Down 2.5% in Two Months, Down 5.3% Year-Over-Year

Import and export prices continue to decline. Agriculture leads the way on export prices, energy on import prices.