by Karl Denninger
Market-Ticker.org
Oh, but inflation is over and Powell will cut rates!
Nope.
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in February on a seasonally adjusted basis, after increasing 0.5 percent in January, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 6.0 percent before seasonal adjustment.
The index for shelter was the largest contributor to the monthly all items increase, accounting for over 70 percent of the increase, with the indexes for food, recreation, and household furnishings and operations also contributing. The food index increased 0.4 percent over the month with the food at home index rising 0.3 percent. The energy index decreased 0.6 percent over the month as the natural gas and fuel oil indexes both declined.
Nobody needs to buy shelter, right?
The internals are a bit interesting; in particular foods you should eat, specifically meats, poultry, fish and eggs came down a bit. Eggs I can confirm but heh, a double remains (its was 400%) so I guess we can call that sort of better.