Lazy me on CPI

Sorry. Didn't do the whole buildup thing for the CPI.

It is -0.1% for August, which is 5.4% annual.

Direct download (pdf, 108.9kb)

My take: Lower than I predicted but then my short term prediction stuff is still being sorted out. There is all sorts of evidence that 2008 Q3 is going to see a substantial decline in GDP and this report shows it too. 5.4% inflation over a twelve month period is still too high so we're still going to see stagflation this month and maybe next month.

August Unemployment was 6.1%. This means that the Misery Index is 11.5 and stagflationary. This is the highest Misery Index level since June 1991 (11.6).

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