Inflation Shocker in the UK: Core CPI Spikes to 30-Year High, Driven by Spike in Services, even as Motor Fuel Prices Plunge by Wolf Richter • Jun 21, 2023 • 137 Comments Bond yields jump as they begin to price in more BOE rate hikes, and higher for longer than previously imagined.
Powell on the New Hawkishness in the Dot Plot and on Inflation: “We See that it Tells Us that We Need to Do More” by Wolf Richter • Jun 14, 2023 • 225 Comments Core inflation “has not really moved down. It has not reacted much to our rate hikes. We’re going to have to keep at it.”
For 7 Months, “Core” CPI Hasn’t Improved at All, Stuck at 2.5x Fed Target. Services CPI Accelerates, Rents Not Playing Along, Used Vehicle CPI Spikes. But Energy Plunged by Wolf Richter • Jun 13, 2023 • 140 Comments Powell has been talking about this. Energy cannot plunge forever.
Reserve Bank of Australia, First Central Bank to “Pause” then “Un-Pause,” Hikes Again, Warns of More Hikes. QT Continues by Wolf Richter • Jun 6, 2023 • 44 Comments Markets surprised by hike and hawkish tilt on fears about inflation expectations and surging labor costs without productivity gains.
Fed’s Favored Core PCE Price Index Re-Accelerates, Driven by Services, Motor Vehicles: Inflation Stuck on High, Shifts from Item to Item by Wolf Richter • May 26, 2023 • 132 Comments Not encouraging: core PCE price index refuses to come down, has moved sideways since July last year.
Free-Money Party for Corporate Profits Turns into Hangover amid Rising Costs and Pressured Revenues by Wolf Richter • May 25, 2023 • 115 Comments “We are entering an EBITDA recession”: S&P Global Ratings.
Inflation Dishes Out Another Nasty Surprise: All Heck Breaks Loose in UK Services CPI & Core CPI, with Scary Monthly Spikes & Multi-Decade Year-over-Year Highs by Wolf Richter • May 24, 2023 • 92 Comments Food Inflation Raged at 19%. But energy prices plunged. In response, UK government bond yields spiked, pricing in higher BOE policy rates.
Rent Inflation Re-Accelerates to Red-Hot, All Three Now Agree: Zillow Asking Rents, What Big Landlords Said, and Actual Rents Tracked by CPI by Wolf Richter • May 22, 2023 • 240 Comments Debacle on the Inflation Front: The Fed’s victory lap about having licked rent inflation was premature.
Inflation Re-accelerates in Japan, Core CPI Spikes to 41-Year High, even as Energy Plunges. BOJ’s Ueda Vows to Let her Rip by Wolf Richter • May 19, 2023 • 95 Comments Bank of Japan clings to negative interest rate policy and yield curve control as inflation spreads across the economy.
The Fed’s Interest Rates Are still Fueling Inflation rather than Dousing it, and People Getting Used to this Inflation by Wolf Richter • May 11, 2023 • 222 Comments Turned upside-down since late 2008 with QE and interest rate repression, it still hasn’t been turned right-side up.
