The May 2018 Consumer Price Index (CPI) was tepidly received where it should have been embraced. Inflation rose to 2.80% for "All Goods." This rate is lower than it was during May 2004, May 2005, May 2006, May 2007, and May 2008 and lower than it was during May 2011. Normally we see May inflation over 3%.
We saw Commodity Deflation and Service Inflation, Again. Energy Costs were up 11.7% from May of last year. This should mean that the Gas Stations will see a spike in MARTS Retail sales. Shelter costs were up over 3%. This means that new and existing homes should continue to experience rising sales prices. This is good for home sellers. Service costs are up. This is good for workers who are receiving pay raises.
Shelter and Energy Costs spiked the most last month. This is not headline news. Gasoline prices have started to fall in the Toledo are, so hopefully they are dropping for you, too. This column has explained that "Inflation is Okay." Wages are up. Full-time Jobs are up. Demand is up. Soon supply will meet demand and we will see inflation moderate.
It's the economy.
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