UK Services Inflation Spikes to 40-Year High. A Global Phenomenon: All Heck Has Broken Loose in Services by Wolf Richter • Aug 16, 2023 • 56 Comments But motor fuel prices plunge, and inflation in durable goods and food cools – same as everywhere.
The Most Splendid Housing Bubbles in Canada: After a Rocking & Rolling BoC-Pause Season, the First Price Drops Reappear by Wolf Richter • Aug 15, 2023 • 100 Comments Short-term yields spiked, and mortgage rates with them: First results of the Bank of Canada’s unpause on the housing market.
Drunken Sailors Partying Hard: Retail Sales Jump despite Cooling Inflation in Goods that Retailers Sell by Wolf Richter • Aug 15, 2023 • 128 Comments They partied most at Restaurants & Bars, and at ecommerce retailers. If I hear one more time consumers are “tapped out,” I’m going to scream.
Consumer Foreclosures, Bankruptcies, Delinquencies, and Collections: Checking on the Hangover of our Drunken Sailors by Wolf Richter • Aug 12, 2023 • 153 Comments Not much of a hangover yet. Going to see more of these frying-pan charts
End of “Disinflation” Honeymoon: CPI Accelerates YoY. Core Services CPI Accelerates MoM. Durable Goods Prices Normalize at Nosebleed Levels by Wolf Richter • Aug 10, 2023 • 180 Comments Core services inflation at 6.1% year-over-year; Core CPI at 4.7%. Three factors make it rough for CPI the rest of the year.
US Government Debt Spikes by $1.2 trillion since Debt Ceiling, to $32.7 Trillion. Treasury to Add $1.5 Trillion in Debt by Year-End by Wolf Richter • Jul 31, 2023 • 169 Comments Stunning numbers out today. Investors will buy the securities, plus those the Fed steps away from. But… Crystal ball sees rising longer-term yields.
Runaway Services Inflation in Euro Area Spikes to Record. Core CPI Stays Near Record. Energy-Price Plunge Pushes Down Overall CPI by Wolf Richter • Jul 31, 2023 • 70 Comments “The drivers of inflation are changing…. Domestic price pressures, including from rising wages and robust profit margins,” are increasingly important: ECB
Fed Favored “Core” PCE Price Index Rises 4.1%, Least since Sept 2021, on Drop in Durable Goods. But Monthly Services Inflation Accelerates by Wolf Richter • Jul 28, 2023 • 201 Comments Housing, finance, insurance, recreation, other services jumped in June from May. Energy plunged 28% year-over-year, but also jumped in June from May.
What Alphabet’s Layoffs, Current Headcount, and Unemployment Claims Tell us about the Erstwhile Tech Layoff Tsunami by Wolf Richter • Jul 27, 2023 • 64 Comments Tech & social media companies went nuts during the pandemic hiring-bubble, then sobered up. Now it’s already over.
Younger People Drove the Increase in Homeownership Rates over the Past Few Years: Census by Wolf Richter • Jul 25, 2023 • 123 Comments They’re making good money and got on with their lives. Fueled by low interest rates and FOMO, it was part of the force behind the price surge.
