Last week, WPI’s Dave Juday noted that while the all-items CPI inflation measure has fallen significantly from its June 2022 peak, other metrics show far more persistent inflation. The “core CPI” (which ignores energy and food inflation) that the Fed considers when making interest rate decisions was up 4.8 percent from the prior year. Food inflation remained historically high last month and was up 5.75 percent from June 2022. This article will take a deeper look at food inflation and explore other factors relevant to consumer behavior and the macroeconomic outlook.
Food Inflation and Sales One reason for the stubbornly high food inflation rate is high agricultural commodity prices as recent retreats in grain and...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
