Courtesy of Mish.
Hip, hip, hooray! The CPI is up more than expected, led by a huge 1.1% month-over-month surge in medical care supplies.
Medical care services jumped 0.9%, and shelter jumped 0.3%.
This will not help the economy. And it will subtract from consumer spending other than Obamacare and rent, but economists are cheering.
CPI-U All Urban Consumers
Real World Happiness
- Food at home -1.9%
- Energy -9.2%
- Gasoline -17.3%
- Fuel Oil -12.8%
- Electricity -.07%
- Used cars -4.0%
Unreal World Happiness
- Food Away From Home +2.8%
- Medical Care Commodities +4.5%
- Shelter +3.4%
- Transportation Services +3.1%
- Medical Care Services +5.1%
Keynesian Theory vs. Practice