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July CPI - Oh Aren't You the Most Precious Little Inflator
More tame economic data comes our way today with the Labor Department's release of the July Consumer Price Index. The gauge of retail inflation came in at 0.4%, right where economists were predicting. The core number, excluding food and energy, was 0.2%, less than the 0.3% expected.
Following yesterday's quite tame wholesale inflation data, this completed a two-day mollification of investors, offering compelling evidence that inflation is sufficiently contained to keep the Fed's rate hiking guns holstered for the time being.
On the happy news, the major stock indices piled additional gains onto yesterday's big upward move.
Previously:
July PPI - Aw, Look At That Cute Little Inflation
Handcrafted by Flip on August 16, 2006 |
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