Food Prices

Fundamentals 7/14: Consumer Not Yet Buying It

June Producer Inflation -Overall PPI Month/Month: -0.4% -Core PPI Month/Month: +0.3% -Overall PPI Year/Year: +7% -Core PPI Year/Year: +2.4% -Lower energy costs this month. This is also a time to remind that ‘Overall’ is a better macroeconomic indicator because it smooths out the volatility of energy and food prices. June Retail Sales -Overall Retail Sales

Fundamentals 6/15: Inflation, Industrial Production

Consumer Inflation: CPI – Month/Month (overall) +0.2% CPI – Year/Year (overall) +3.6% CPI – Month/Month core (less food & energy) 0.3% CPI – Year/Year core (less food & energy) 1.5% Month/Month core is a tenth above “acceptable.” CPI details here. Mortgage Applications: Purchase Index – Week/Week Change 4.5 % Refinance Index – Week/Week Change 16.5

Fundamentals 6/15: Inflation, Industrial Production

Consumer Inflation: CPI – Month/Month (overall) +0.2% CPI – Year/Year (overall) +3.6% CPI – Month/Month core (less food & energy) 0.3% CPI – Year/Year core (less food & energy) 1.5% Month/Month core is a tenth above “acceptable.” CPI details here. Mortgage Applications: Purchase Index – Week/Week Change 4.5 % Refinance Index – Week/Week Change 16.5

WeeklyBasis 5/15/11: Awesome Rates, Inflation Primer

The good news is that rates begin the May 16 trading week near 2011 lows. The bad news is that it’s because of a frail economy. Rates drop when bond prices rise, and mortgage bonds have rallied the last four weeks on lower home prices, weak GDP, and low core inflation. Bonds are topped out

WeeklyBasis 5/15/11: Awesome Rates, Inflation Primer

The good news is that rates begin the May 16 trading week near 2011 lows. The bad news is that it’s because of a frail economy. Rates drop when bond prices rise, and mortgage bonds have rallied the last four weeks on lower home prices, weak GDP, and low core inflation. Bonds are topped out