excalibur
Diamond Member
- Mar 19, 2015
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Haven't heard Biden or the White House comment on this. Did the MSM make a big deal out of it or basically ignore it in their usual manner of doing that?
On Friday, the Bureau of Labor Statistics released its annual revisions to the Consumer Price Index for December, with some revisions going back to 2018. These revisions came just ahead of the January CPI to be released on Tuesday.
What was actually revised were the seasonal adjustments, and thereby the seasonally adjusted month-to-month CPI readings that everyone is talking about as a measure of current inflation, whether it’s accelerating or slowing down.
The revisions for the December month-to-month readings were all to the upside, including:
...
On Friday, the Bureau of Labor Statistics released its annual revisions to the Consumer Price Index for December, with some revisions going back to 2018. These revisions came just ahead of the January CPI to be released on Tuesday.
What was actually revised were the seasonal adjustments, and thereby the seasonally adjusted month-to-month CPI readings that everyone is talking about as a measure of current inflation, whether it’s accelerating or slowing down.
The revisions for the December month-to-month readings were all to the upside, including:
- Overall CPI (CPI-U), old -0.1%; new +0.1%. So there goes that.
- “Core CPI” (without food and energy), old +0.3%; new +0.4%
- Services CPI, old: +0.6%; new +0.7%. This is where nearly two-thirds of consumer spending goes. And it is red hot.
...
CPI Just Got Revised Higher for October through December. The Revisions Take a Bite out of “Disinflation” Hoopla
Released Friday afternoon, the annual revisions by the BLS went in the wrong direction.
wolfstreet.com
