It seems Canada, India and thee United States all had an uptick in inflation for July and this despite the Fed raising rates 525% and possibly continuing to do so and the job market has been resilient.
Let’s take a look at some charts.
The average U.S. top trading partner inflation is now averaging 4.11 percent but there have been a few countries that have had an uptick in inflation. Will the trend continue?
The top 3 US trading partners more easily show the slight uptick in inflation.
With U.S. mortgage rates now at 21 year highs averaging 7.09 percent there is hope inflation will be contained. On the other hand, oil averaged $76.03 in July and for August (so far) it is averaging $81.95.
The next FOMC meeting is on September 20 so we expect things to run a bit wild for the month of August. Will back-to-school shopping send inflation to the moon or will it continue to moderate?
In order to find out, stay tuned, stay profitable and stay solvent…