{"id":63049,"date":"2022-07-13T08:27:55","date_gmt":"2022-07-13T13:27:55","guid":{"rendered":"https:\/\/olduvai.ca\/?p=63049"},"modified":"2022-07-13T08:27:55","modified_gmt":"2022-07-13T13:27:55","slug":"us-consumer-prices-soared-in-june-americans-real-wages-fall-for-15th-straight-month","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=63049","title":{"rendered":"US Consumer Prices Soared In June, Americans’ Real Wages Fall For 15th Straight Month"},"content":{"rendered":"
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US Consumer Prices Soared In June, Americans’ Real Wages Fall For 15th Straight Month<\/a><\/h3>\n<\/header>\n
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With The White House having desperately tried to front-run this morning’s inflation print, analysts were expecting a jump higher led by food and energy costs. They were right in direction but it was way worse as the headline CPI soared 9.1% YoY (vs 8.8% exp and 8.6% prior)…<\/p>\n

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Source: Bloomberg<\/em><\/p>\n

The 1.3% MoM rise is the hottest since 2005…<\/p>\n

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Source: Bloomberg<\/em><\/p>\n

…and the 9.1% YoY is the hottest since 1981.<\/p>\n

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Source: Bloomberg<\/em><\/p>\n

Goods inflation is slowing but services costs are soaring at their fastest since 1991…<\/strong><\/p>\n

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Source: Bloomberg<\/em><\/p>\n

Under the hood,\u00a0energy costs dominated<\/strong>\u00a0the rise, but the\u00a0<\/strong>rent index rose 0.8 percent over the month,\u00a0the largest monthly increase since April 1986.<\/strong><\/p>\n

The\u00a0motor vehicle maintenance<\/strong>\u00a0and repair index increased 2.0 percent in June, its\u00a0largest increase since September 1974.<\/strong><\/p>\n

The index for\u00a0dental services<\/strong>\u00a0increased 1.9 percent in June, the\u00a0largest monthly change ever recorded for that series, which dates to 1995.<\/strong><\/p>\n

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Focusing on the roof over your head factor,\u00a0shelter inflation +5.61%, up from 5.61%, highest since 1992, and rent inflation +5.78%, up from 5.22%, highest since 1986<\/strong><\/p>\n

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Real wages fell for the 15th month in a row… (Americans’ purchasing power domestically fell by a record 3.6% YoY in June)<\/strong><\/p>\n

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Developing…<\/em><\/p>\n

Finally, the S&P has ended the day lower on 5 of the last 6 CPI days…<\/p>\n

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Trade accordingly.<\/p>\n

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US Consumer Prices Soared In June, Americans’ Real Wages Fall For 15th Straight Month With The White House having desperately tried to front-run this morning’s inflation print, analysts were expecting a jump higher led by food and energy costs. They were right in direction but it was way worse as the headline CPI soared 9.1% […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[15374,172,13351,827,834,4318],"class_list":["post-63049","post","type-post","status-publish","format-standard","hentry","category-economics","tag-consumer-price-inflation","tag-cpi","tag-price-inflation","tag-united-states","tag-us","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=63049"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63049\/revisions"}],"predecessor-version":[{"id":63050,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63049\/revisions\/63050"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=63049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=63049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=63049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}