THE BASIS POINT

Inflation (and just about everything else) Contained

 

Consumer Price Index (July 2014)

– CPI overall month/month +0.1%. Previous was +0.3%

– CPI overall year/year +2.0%. Previous was +2.1%

– CPI core (less food & energy)  month/month +0.1%. Previous was +0.1%

– CPI core (less food & energy) year/year +1.9%. Previous was +1.9%.

Inflation remains contained as the Fed ponders when to start raising rates.

Housing Starts (July 2014)

– Housing Starts seasonally adjusted, annualized (in total units)  1,093,000. Previous was 945,000

– Permits seasonally adjusted, annualized (in total units)  1,052,000. Previous was 973,000.

This is an improvement to a previous number which was very low.  To keep pace with population growth and keep constant the

number of people per household we should have 1,500,000 Starts per year.

ICSC-Goldman Store Sales (week ended 8/16/2014)

– Store Sales week/week -1.3%. Previous was -1.4%

– Store Sales year/year +3.8%. Previous was +3.2%.

Redbook Store Sales (week ended 8/16/2014)

– Store Sales year/year +3.7%. Previous was +4.8%.

 

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