Deflation On Deck?

The Liberation Day tariffs are still likely the prime determinant of April consumer price levels. At the same time, we are seeing a number of forces emerge which will tend to reduce and minimize the tariffs’ ultimate impact.

The tariffs are still very much the wild card regarding what happens next with consumer prices in the US. The producer price data, however, suggests that whatever does happen next may not be as wild as corporate media has been suggesting.

Links And Sources

• “Deflation!”: https://newsletter.allfactsmatter.us/p/deflation

• Producer Price Index Summary: https://archive.ph/0tqjW

• PPI For Final Demand And Core Demand: https://fred.stlouisfed.org/graph/?g=1I2MS

• Energy PPI: https://fred.stlouisfed.org/graph/?g=1DELi

• Food PPI: https://fred.stlouisfed.org/graph/?g=1DEL7

• Eggs PPI: https://fred.stlouisfed.org/graph/?g=1I2tR

• Goods PPI: https://fred.stlouisfed.org/graph/?g=1Etts

• Services PPI: https://fred.stlouisfed.org/graph/?g=1Ett4

• Construction PPI: https://fred.stlouisfed.org/graph/?g=1I2uX

• PPI For Intermediate Demand: https://fred.stlouisfed.org/graph/?g=1I2HZ

• Goods And Services PPI For Intermediate Demand: https://fred.stlouisfed.org/graph/?g=1I2P8

• Services PPI For Intermediate Demand: https://fred.stlouisfed.org/graph/?g=1I2Ih

• “China’s Deflation Deepens”: https://substack.com/@peternaylandkust/note/c-107885665