US Core CPI in August hit a One-Year Maximum İncrease
The US Department of Labor’s Bureau of Labor Statistics (BLS) announced on September 12 that the annual increase in the consumer price index (CPI) in August 2019 (without seasonal adjustment) was 1.7%, lower than market expectations of 1.8%.
In August 2019, the US CPI monthly growth rate (adjusted by seasonal factors) was 0.1%, in line with market expectations, the lowest increase since June; the core (excluding food, energy) CPI increased by 0.3%, higher than market expectations. 0.2%, maintained at the same level for the third consecutive month.
The US core non-seasonal CPI annual growth rate in August was 2.4%, higher than market expectations of 2.3%, the largest increase since July 2018.
The detailed data shows that the new car index has increased by 0.2% annually and the apparel index has only increased by 1.0% annually. On the other hand, the medical care service index increased by 4.3% year-on-year, the largest increase since September 2016.
BLS announced on September 11 that the final US demand price increase in August 2019 can be attributed to the final demand service index (up 0.3%). In comparison, the final demand item index fell 0.5% in the month and the biggest drop since January (0.6% in monthly).
The National Association of Independent Businesses (NFIB) announced on September 10 that in August 2019, 27% of small business owners interviewed “difficult to find suitable employees” were the most important operational problems they faced, an increase of 1 percentage point from July. The highest record in history.
The proportion of respondents who named “labor cost” as the biggest problem rose to 9% from 8% a year ago, approaching the highest record in history (10%). However, the proportion of small business owners who believe that “inflation” is the most important issue has fallen from 2% a year ago to 1%, approaching the lowest 0% in history.
Since the start of the US-China trade war, the real salary increase in the United States has not declined.
On July 6, 2018, the United States launched the “largest trade war in economic history so far” that the Chinese Ministry of Commerce said.
The average non-agricultural non-agricultural average hourly wage in the United States in August was 1.5%, an increase of 1.4% in July 2019 and much higher than 0.5% in August 2018.
From the perspective of weekly salary, the situation is roughly the same. The average weekly salary of non-agricultural non-agricultural entities in the United States adjusted by CPI in August increased by 1.2% year-on-year, which was better than 0.9% in July 2019, and much higher than 0.8% in August 2018.
Main source of the news
CONSUMER PRICE INDEX – AUGUST 2019