Consumer prices fell the most in history in the recent reporting period for the Consumer Price Index. Gas prices led the way lower, along with apparel. The data is suspect as inputs may be spurious due to the effects of the Chinese coronavirus.
Core CPI dropped the most in 60 years. Grocery prices however rose the most in decades.
Inflation may become a problem down the road due to mounting U.S. debt, but today, it is not significant.
The legacy media is hyping today’s testimony by Dr. Anthony Fauci on the Chinese coronavirus outbreak to the U.S. Senate as having an effect on markets. President Trump prevented Fauci from testifying in the House of Representatives, saying it was a setup.
President Trump also said he would accept negative rates as a ‘gift’ to the U.S. economy during the crisis. This flies against establishment theocracy on interest rate policy from the Federal Reserver.
NFIB Business Optimism Index (Apr) printed at 90.9 vs 96.9 consensus estimate.
Consumer Price Index (MoM) (Apr) printed at the estimate of -0.8%.
Consumer Price Index Core s.a (Apr) printed at 265.6.
Consumer Price Index n.s.a (MoM) (Apr) printed at 256.389 vs 256.449 estimate.
Consumer Price Index ex Food & Energy (MoM) (Apr) printed at -0.4% vs -0.2% estimate.
Consumer Price Index (YoY) (Apr) printed at 0.3% vs 0.4% estimate.
Consumer Price Index ex Food & Energy (YoY) (Apr) printed at 1.4% vs 1.7% estimate.
Redbook Index (YoY) (May 8) printed at -7.5%.
Redbook Index (MoM) (May 8) printed at -1.5%.