Jobs grew last month at a 750k annual pace, while wages popped 4.5% — twice the inflation rate.

If the war’s really ending we’re back to boom

PETER ST ONGE

https://x.com/profstonge/status/2039325472597651829

ALSO

Despite the noise, higher oil prices have not hurt US manufacturing activity, quite the opposite.

We’ve seen freight demand surge over the past few weeks, not cool.
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BRITISH HODL
@BritishHodl
·
1h
I am shocked that the US PMI just came in higher at 52.7 in the face of whats going on,

…………

BUT THE WAR HAS CREATED MASSIVE INFLATION …RIGHT ?

The US inflation index went down quite significantly today from 1.77% to 1.26%.

Truflation CPI often shows larger monthly shifts on the 1st of each month because multiple data providers update their data.

This time, the shift is downwards and unusually strong, highlighting multiple sticky deflationary trends across major categories, while gasoline prices continue to go up and have driven inflation higher over the past month.

Main drivers of this renewed deflationary wave:

1. Transport (-0.17%) – Used and New car price inflation is decreasing despite being offset by the Gasoline prices going up.

2. Food (-0.10%) – Food at home and Food away from home inflation is dropping.

3. Utilities (-0.10%) – Natural Gas prices are declining.

4. Housing (-0.09%) – Prices are dropping across all 3 sub-categories: Rented, Owned, and Other Lodgings.

Our data team also researched potential reasons behind these large shifts across multiple categories, which you can read in the thread below

https://x.com/truflation/status/2039283063394557957