A New High in CPI Growth
Consumer inflation has accelerated recently, bucking disinflation and deflation concerns that had permeated financial markets earlier this year.
In August, the core Consumer Price Index (CPI) increased at least 0.3% for a third straight month, the first time that’s happened since April 1995. As shown in the LPL Chart of the Day, core CPI rose 2.4% year over year last month, one of the fastest paces of growth in this economic cycle.
Gauges of consumer inflation slowed earlier in 2019 as trade uncertainty weakened global demand. Then, consumer spending picked up and the United States continued to in... Read more