THE BASIS POINT

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 %
Composite Index – Week/Week Change 13.0 %
Refi index driven by low rates but purchase index is a ray of hope.

Industrial Production
Month/Month change +0.1 %
Capacity Utilization Rate – 76.7 %.