LAST WEEK

News & Commentary Weekly Highlights:

• CNN Money: Greece’s Economy Could Shrink by Another 4% This Year (Friday)
• Wall Street Journal: ObamaCare’s Prices Will Keep Surging (Thursday)
• Bloomberg Business: Yellen Favors Tightening in a ‘Prudent and Gradual’ Manner (Thursday)
• Wall Street Journal: Economists See U.S. Strong Enough to Withstand Global Risks (Thursday)
• Market Watch: Yellen Repeats Fed on Path to Raise Rates Before ‘Year End’ (Wednesday)

 

Top Economic Indicator Highlights:

Consumer Price Index (June)

• Change from previous month: 0.3%
• Change less food & energy (M/M): 0.2%
• Noteworthy: Broad-based gains included increases in indexes for gasoline, shelter, and food. The headline index rose 0.1% over the last 12 months, unadjusted, showing a 12-month increase for the first time since December 2014. Core CPI (less food and energy) has increased 1.8 percent over the past 12 months.
• Addendum: Real average hourly earnings for all employees decreased 0.4% in June, declining for the second consecutive month, and reflecting no change in nominal average hourly earnings before considering inflation (CPI). Real average weekly earnings fell 0.3% due to a decrease in real average hourly earnings and no change in the average workweek.
• Series Detail: The CPI is a collection of indexes that measures the average change in consumer prices over time for a fixed basket of goods and services from the perspective of the consumer, whereas the producer price index for final demand (PPI-FD) measures price changes from the producer’s perspective.

 

THIS WEEK

Upcoming Economic Reports & Releases:

Major Indicators

• Regional and State Employment and Unemployment (10am, Tuesday)
• Existing Home Sales(10am, Wednesday)
• New Home Sales (10am, Friday)

 

Chart of the Week: