This week's full report.
Gasoline rose +0.1¢ for the week, but remains below year ago levels, by -12.2¢, or -3.4%. Consumption edged up... per this past report, yet still remains below year ago levels, by just -0.9%.
This week's full report.
Gasoline rose +0.1¢ for the week, but remains below year ago levels, by -12.2¢, or -3.4%. Consumption edged up... per this past report, yet still remains below year ago levels, by just -0.9%.
Advance Monthly Sales for Retail and Food Services, May Report.
Advance estimates of U.S. retail and food services sales for May 2024, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $703.1 billion, up 0.1 percent (±0.4 percent)* from the previous month, and up 2.3 percent (±0.5 percent) above May 2023. Total sales for the March 2024 through May 2024 period were up 2.9 percent (±0.5 percent) from the same period a year ago. The March 2024 to April 2024 percent change was revised from virtually unchanged (±0.4 percent)* to down 0.2 percent (±0.2 percent)*.
The race is further tightening on the national level, with Trump edge of 0.2% from two weeks ago, now knotted up at 43.9% each or very slight Biden advantage, at 43.898%, with Trump at 43.894%. This is tighter than fivethirtyeight, which has the Trump edge a +1.1%.
Kennedy is really closing the gap with Biden and Trump... in the unfavorable category. So maybe familiarity really does breed contempt. /s
The current comparison, to same time four years ago...
My electricity usage over time. I track many things to monitor my inflation versus the CPI.
The BLS has released the May, 2024 Producer Price Index Report. (historical releases)
The Producer Price Index for final demand declined 0.2 percent in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices increased 0.5 percent in April and edged down 0.1 percent in March. (See table A.) On an unadjusted basis, the index for final demand advanced 2.2 percent for the 12 months ended in May.
The May decrease in final demand prices can be attributed to a 0.8-percent decline in the index for final demand goods. Prices for final demand services were unchanged.
Prices for final demand less foods, energy, and trade services were unchanged in May following a 0.5-percent increase in April. For the 12 months ended in May, the index for final demand less foods, energy, and trade services rose 3.2 percent.
PPI Final Demand...
On to the Real Earnings.
Finally an uptick in real earnings. Depending on when you consider turmoil in the labor market, due to covid, the hourly rate is either 13¢ or 1¢ above that period.
First up is the BLS Report for CPI...(historical releases)
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in May on a seasonally adjusted basis, after rising 0.3 percent in April, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.3 percent before seasonal adjustment.
More than offsetting a decline in gasoline, the index for shelter rose in May, up 0.4 percent for the fourth consecutive month. The index for food increased 0.1 percent in May. The food away from home index rose 0.4 percent over the month, while the food at home index was unchanged. The energy index fell 2.0 percent over the month, led by a 3.6-percent decrease in the gasoline index.
Here is the unadjusted CPI for the past 12 months...
A few reports of interest (to me), from this past week. CPI Real earnings Petroleum Producer Price Index Retail Sales The inflation report ...