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Monday, June 17, 2024

Good News For Inflationists: Medical Costs and Rent Surge; Mini-Stagflation Coming Up?

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

cpi-2016-09a

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


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