CNBC's Rick Santelli reports on the July consumer price index. For access to live and exclusive video from CNBC subscribe to CNBC PRO: 🤍cnb.cx/2NGeIvi Treasury yields rose on Wednesday after data showed inflation started to creep back into the economy due to a jump in auto and apparel costs. The yield on the benchmark 10-year Treasury note rose more than 2 basis points to 0.685% and the yield on the 30-year Treasury bond also climbed 3 basis points to 1.375%. Yields move inversely to prices. The Labor Department reported Wednesday the consumer price index rose 0.6% in July and the gauged jumped 1% compared with a year ago. Economists surveyed by Dow Jones had expected a 0.3% increase in headline CPI for the month and a 0.8% gain for the year. Meanwhile, the consumer price index less food and energy posted a 0.6% increase in July and the core CPI was up 1.6% for the 12-month period. “We think this reflects the pent-up demand from the stay-at-home consumers who were unleashed as many states reopened and stayed open,” Chris Rupkey, chief financial economist at MUFG, said in a note. “One month of too-hot core CPI inflation does not a trend make and we doubt the inflation genie has escaped her bottle.” Doubts resurfaced over a swift resolution to the stalemate between lawmakers on a new coronavirus relief bill. Lawmakers on Tuesday ended a fourth consecutive day without the resumption of talks over an additional fiscal stimulus package, with the previous deadline set by the White House having elapsed Friday and Congressional Democrats and Republicans blaming each other for a refusal to compromise. The U.S. Treasury will auction a record $38 billion of 10-year notes on Wednesday, along with $25 billion of 105-day bills and $30 billion of 154-day bills. Yields had spiked on Tuesday after Labor Department data showed that U.S. producer prices rebounded in July, though the overall trend in producer inflation remained muted. After the bell on Tuesday, President Donald Trump said the U.S. government will purchase 100 million doses of Moderna’s experimental coronavirus vaccine, which is currently in late-stage human trials. Meanwhile, Russian local news agencies reported that President Vladimir Putin claimed the country had given regulatory approval for the world’s first Covid-19 vaccine. » Subscribe to CNBC TV: 🤍cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: 🤍cnb.cx/SubscribeCNBC » Subscribe to CNBC Classic: 🤍cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: 🤍🤍cnbc.com/ Follow CNBC on LinkedIn: 🤍cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: 🤍cnb.cx/LikeCNBC Follow CNBC News on Twitter: 🤍cnb.cx/FollowCNBC Follow CNBC News on Instagram: 🤍cnb.cx/InstagramCNBC For info on the best credit cards go to CNBC Select: 🤍🤍cnbc.com/select/best-credit-cards/ #CNBC #CNBCTV
CPI with food and energy is up over 6% mabey that is why they take unimportant things like food and gasoline out of their calculation.
Cooking the books as usual.
Britain plunges into deep recession, with steep job losses and Europe’s highest virus death toll.
LONDON — The official numbers were published Wednesday, and they are officially ugly. The British economy has plunged into a record-shattering deep recession, shrinking by a fifth in the second quarter and posting the steepest decline of any Group of Seven nation.
The Washington Post/ By Karla Adam and William Booth, August 12, 2020
Another better then expected as always
This index is manipulated to get it low, it doesn't consider rent or houses prices where people spend a big portion of their money.
instead they put in a lot of depreciating electronics that is only apparently depreciating because it gets substitute with a new product more expensive the next year
Real inflation is at 4% and soon will go toward 10% with all this FED money
IMagine what the index would've been if the government was giving 33 million Americans 600/week. We need to open the country open and get the economy flowing again. We have built so much credit these past 6 months that we need SPENDING. We need cash flow for these corporations to pay back their debt.
is this good news? lol things are more expensive yay!!
Inflation can really jump up in hyper inflation ;) Inflation has been up since the start of the pandemic ask anyone who's been to the grocery store. Looked at hand sanitizer? the list goes on. What will your taxes look like when so many are behind in paying taxes. How are we going to pay for the pandemic? How about all this govt spending?