U.S. Consumer Price Index Rose 0.2% In October
(For October 2010)
U.S. consumer price index rose 0.2% in October vs. 0.3% consensus and September reading of 0.1%. On year level CPI inflation is running at 1.2%.
Chart 1. U.S. Consumer Price Index
Consumer price index fell less food & energy came out unchanged. September reading was also at 0.0%. The consensus was at 0.1%. On year level CPI inflation is running at 0.6%.
Chart 2. U.S. Consumer Price Index Core (Less Food & Energy)
Note to Mr. Bernanke: there’s no inflation because of lack of demand and this can not be cured with more money thrown at the bank system. The supposed wealth effect will be overwhelmingly offset with lower disposable income caused by higher commodity prices.
Ben Bernanke, FED, Quantitative Easing, U.S. Consumer Price Index