Thursday, August 14, 2008
Barry Ritholtz on the inflation news:Love it
: (emp add)
Wow! Big pop in inflation last month: July CPI rose 0.8% headline, 2X consensus expectations as food, energy, airline fares and -- of all things, clothing apparel -- rose in price.
The meaningless core rate rose 0.3%, 0.1% more than expected. Year over year price increases are 5.6% -- the biggest monthly gain since gains January 1991.