Data from BLS, chart by MishThe BLS reports the Consumer Price Index rose 0.2 percent in September
CPI Month-Over-Month Details
CPI Month-Over-Month Rent and OER I believe these trends will continue as the supply of finished apartments rapidly increases.Since shelter is 36.5 percent of the CPI, the good news overshadows the bad, for the month.
CPI Year-Over-Year
Year-Over-Year Details
Energy was down 6.8 percent from a year ago. I don’t chart energy because it is so volatile that it blows the scale on every chart.
Looking AheadI expect further improvement in shelter, due to falling rent and OER. That is very good news given their weight in the CPI. Short term, the good new might end there.The price of crude has spiked so energy costs will rise.Medical care services is another hot spot that is bad news. Unfortunately, I expect the bad news will continue.The hurricanes will drive up the cost of home repairs and materials, perhaps substantially.Insurance costs will rise everywhere as insurers will look to spread out the damages.I will discuss food and medical in separate reports later today.
Bogus Jobs ReportThe latest jobs report is a certified mess. For discussion please see Government Employment Rose by an Amazing 785,000 in SeptemberBLS math is often peculiar. This month is a real doozie. Four charts.
Best WishesBest wishes to everyone impacted by the Florida hurricanes. Damages will be huge. Anyone without both flood and wind policies will take huge hits.More By This Author:The Average Person Works 34.2 Hours, How Many Do You Work?McKelvey-PMES Recession Indicator Weakens Slightly But Signal Still FirmGovernment Employment Rose By An Amazing 785,000 In September