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CPI Indicates Inflation Is Elusive

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By Douglas A. McIntyre Updated Published
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money-stack-imageThe June reading for the Consumer Price Index, the measure for retail inflation, is a bit different than the Producer Price Index hike seen yesterday.   The headline CPI came in at +0.7% and the core-CPI came in at +0.2%.  Consensus estimates from Bloomberg were +0.7% on the headline CPI and +0.1% on the core-CPI measuring ex-food and energy.

Where this gets interesting is that the year-over-year drop came in at -1.4%.  When you compare this to the PPI yesterday it leads you to one of two conclusions.  The first is that th ein energy prices has already mitigated any impact of the producer-side from May to June.  The second is that producers and wholesalers do not believe that they can pass on higher costs to Joe Public.

Energy prices were up 7.4% in June compared to May, but they were down a whopping 25.5% over the last 12 months.

Jon C. Ogg

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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