only reason the CPI (Consumer Price Index) and the PPI (Producer Price Index) fell (as reported this week) was because of the draw on the Strategic Petroleum Reserve.
What do you think happens when we go to replenish it?
China is rehearsing for its war with Taiwan, Russia's armed services or on high alert, were drawing oil from the strategic reserve...think about it for a minute.
US Producer Prices Fall for First Time Since Early in Pandemic
"Excluding the volatile food and energy components, the so-called core PPI rose 0.2% from June and 7.6% from a year earlier. Both the overall and core figures were softer than forecast.
Were celebrating things didn't rise as much as they were forecast to.
Nice.
Core CPI (reported yesterday I believe) rose as well but I assure you this isn't the narrative you'll hear about.
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