PPI (June 2013)
– PPI Month/Month (overall) +0.8%. Previous was +0.5%
– PPI Year/Year (overall) +2.5%. Previous was 1.8%
– PPI Month/Month core (less food & energy) +0.2%. Previous was +0.1%
– PPI Year/Year core (less food & energy) +1.6 %. Previous was +1.6%
Overall was up because of increased energy prices. Core was +0.2% which is of minimal concern. As always, it is core which gives the true state of inflation because it filters out the bouncy prices of food and energy which experience temporary hits to suppy or, in the case of oil, fear of temporary hits to supply.
Consumer Sentiment (July 2013)
– Sentiment 83.9. Previous was 84.1.
This is the University of Michigan Sentiment Index. This is a survey index which questions 500 households each month on their financial conditions and attitudes about the economy. It is supposed to be a leading indicator of consumer spending.