The muddled and mixed trends we are seeing in the CPI data suggests that inflation is not really “cooling”. Inflation is at best “smoldering”, and at worst on the cusp of flashing over to a renewed period of significant price rises, even hyperinflation.
Links And Sources
December 2024 Consumer Price Index Summary: https://archive.ph/44nsJ
“Energy and food prices drove inflation in December”: https://archive.ph/rRJ8F
“Benign inflation report sets off risk-on frenzy for markets in 2025”: https://archive.ph/TCfVX
“Consumer Prices Soard 21% Under Biden”: https://archive.ph/bnwVe
Dow Jones Industrial Average 16 Jan 2025, 3PM: https://tinyurl.com/mryskhm5
US Treasury YIelds 16 Jan 2025, 3PM: https://tinyurl.com/3e74bfru
GasBuddy Charts: https://www.gasbuddy.com/charts
EIA Weekly Retail Gasoline and Diesel Prices: https://tinyurl.com/2kbrpudc
Consumer Price Index, “Core” Index, Average Weekly Wages, 2021-2024: https://fred.stlouisfed.org/graph/?g=1CYfK
Consumer Price Index, “Core” Index, Average Weekly Wages, 2024: https://fred.stlouisfed.org/graph/?g=1CYfH
Consumer Price Index Less Index of Average Weekly Wages: https://fred.stlouisfed.org/graph/?g=1CZRn
“Core” Index Less Index of Average Weekly Wages: https://fred.stlouisfed.org/graph/?g=1CZRo
Energy Price Inflation, % Month on Month: https://fred.stlouisfed.org/graph/?g=1CZS1
Food Price Inflation, % Month on Month: https://fred.stlouisfed.org/graph/?g=1CZSe
Energy Price Inflation, Indexed to January 2021: https://fred.stlouisfed.org/graph/?g=1CZTu
Food Price Inflation, Indexed to January 2021: https://fred.stlouisfed.org/graph/?g=1CZTC
Service Price Inflation, Indexed to January 2021: https://fred.stlouisfed.org/graph/?g=1CYjv
Service Price Inflation, % Month on Month: https://fred.stlouisfed.org/graph/?g=1CYjs
Food Labor Cost, Bread and Starches, 2024: https://fred.stlouisfed.org/graph/?g=1CZVO
Food Labor Cost, Dairy, 2024: https://fred.stlouisfed.org/graph/?g=1CYgC
Food Labor Cost, Beef, 2024: https://fred.stlouisfed.org/graph/?g=1CZWi
Food Labor Cost, Pork, 2024: https://fred.stlouisfed.org/graph/?g=1CZXF
Food Labor Cost, Chicken, 2024: https://fred.stlouisfed.org/graph/?g=1CZXE
Food Labor Cost, Eggs, 2024: https://fred.stlouisfed.org/graph/?g=1CYfZ
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