2007-12-14 US Economic Releases

2007-12-14 Consumer Price Index MoM

Consumer Price Index MoM (Nov)

Survey 0.6%
Actual 0.8%
Prior 0.4%
Revised n/a

2007-12-14 CPI Ex Food & Energy MoM

CPI Ex Food & Energy (Nov)

Survey 0.2%
Actual 0.3%
Prior 0.2%
Revised n/a

2007-12-14 Consumer Price Index YoY

Consumer Price Index YoY (Nov)

Survey 4.1%
Actual 4.3%
Prior 3.5%
Revised n/a

2007-12-14 CPI Ex Food & Energy YoY

CPI Ex Food & Energy YoY(Nov)

Survey 2.3%
Actual 2.3%
Prior 2.2%
Revised n/a

2007-12-14 CPI Core Index SA

CPI Core Index SA (Nov)

Survey n/a
Actual 210.177
Prior 212.050
Revised n/a

2007-12-14 Consumer Price Index NSA

Consumer Price Index NSA (Nov)

Survey 209.800
Actual 210.177
Prior 208.936
Revised n/a

Pretty frisky inflation number with one apparent anomaly

  • Headline is 0.796% MoM and 4.3% YoY.
  • Core 0.275% MoM and 2.3% YoY.
  • Many components on trend: OER 0.3%, medical 0.4%, recreation 0.1%, tobacco 0.2%
  • Apparel was off-trend, rising 0.8%.
  • Within apparel, mens and women’s clothing were both negative for the month. So the sole source within this category was ‘toddler and infant’ clothing, rising 1.7%.
  • This would have knocked down core enough to round down to 0.2%.
  • But persistence of inflation here disconcerting to Fed.

♥

Crude oil demand revised up

This means Saudis/Russians will continue to be price setters for at least the next few quarters.

IEA Lifts 2008 World Oil Demand Growth Forecast

By Reuters | 14 Dec 2007 | 05:32 AM ET

World oil demand will grow more quickly than expected next year fueled by the Middle East and proving resilient to record-high prices, the International Energy Agency said on Friday.

The IEA, adviser to 27 industrialized countries, said in its monthly Oil Market Report that demand will rise by 2.1 million barrels per day (bpd) next year, up 200,000 bpd from its previous forecast.

“A lot of this demand is in the non-OECD countries, where we don’t have any downgrades in economic growth forecasts,” said Lawrence Eagles, head of the IEA’s Oil Industry and Markets division.