July 2018 CPI-U, CPI-W and PPI-FD Goods Annual Inflation Rates Jumped to
Respective New 79-Month Highs (Since December 2011) of 2.95%, 3.16% and 4.50%

Less-Meaningful PPI-FD Aggregate Inflation Backed Off to 3.27% from 3.37% in June,
Hit by Falling Profit Margins at Gasoline Stations

July 2018 Real Average Weekly Earnings Contracted Anew,
Month-to-Month (Seasonally Adjusted) and/or Year-to-Year (Unadjusted)
Down by 0.01% (-0.01%) in the Month, by 0.22% (-0.22%) in the Year for
Production and Nonsupervisory Employees

Real Average Weekly Earnings for All Employees
Fell by 0.20% (-0.20%) in July, Unchanged at 0.00% Year-to-Year

Intensifying Consumer Income and Credit Woes Dim Economic Prospects

Mounting Systemic- and Consumer-Liquidity Issues Reflect Fed Tightening and
Surging Annual Inflation, Driven by Oil Prices, Not by Strong Economic Demand

FOMC-Targeted Annual “Core” CPI-U Inflation Rose to 2.35% from 2.26%,
“Worst” Level Since September 2008, Although It Was 2.33% in February 2016

Fed Rumblings for Greater Rate Hikes to Kill the “Overheating” Economy

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