It may look like good news and the media will slant it to a FJ Biden win – but the reality isn’t price reductions – its a complete slow down of the economy.
I am in construction and I can say that bid activity – there are no bids going on. Its gone completely quiet with new work.
People are in the usual election year paralysis – but its much more extreme than past years.
I think we’ve hit the point where people simply have no money left to spend. the socialists have bled the middle class dry.
www.morningstar.com/economy/may-us-cpi-report-monthly-inflation-flat-may-softer-than-expected
CPI Report Highlights:
- Overall CPI:
- Unchanged in May on a seasonally adjusted basis.
- Increased by 3.3% over the last 12 months before seasonal adjustment.
- Shelter Index:
- Increased by 0.4% in May, continuing its rise for the fourth consecutive month.
- Food Index:
- Overall food index increased by 0.1% in May.
- Food away from home index rose by 0.4%.
- Food at home index was unchanged.
- Energy Index:
- Fell by 2.0% in May.
- Gasoline index decreased by 3.6%.
- CPI Excluding Food and Energy:
- Rose by 0.2% in May, after a 0.3% rise in April.
- Increases observed in shelter, medical care, used cars and trucks, and education.
- Decreases observed in airline fares, new vehicles, communication, recreation, and apparel.
- 12-Month Changes:
- All items index rose by 3.3%, slightly lower than the 3.4% increase in the previous month.
- CPI excluding food and energy rose by 3.4%.
- Energy index increased by 3.7%.
- Food index increased by 2.1%.
www.bls.gov/news.release/cpi.nr0.htm
h/t Rufus Juice
