by Karl Denninger
Market-Ticker.org
Oh look what the cat dragged in this morning….
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.5 percent before seasonal adjustment.
Here it comes….
Increases in the indexes for food, electricity, and shelter were the largest contributors to the seasonally adjusted all items increase.
Well, that’s ugly.
We have a basic disconnect between facts and feels when it comes to inflation. Everyone who owns assets loves asset inflation. The only people who don’t love it are those who don’t own assets and want to (e.g. if you don’t own a house but want one.)