8.11.21
Excess dollars chasing too few goods has been a theme with inflation watchers. Wednesday’s Consumer Price Index (CPI) report continues that trend with a month-over-month increase of 0.5%, though a significant slowing compared to the 0.9% gain in June. The core index, which excludes food and energy, rose only 0.3% last month. Despite Delta variant concerns, consumer demand is high, and the Federal Reserve is still considering current inflation to be temporary.