Author: Zac Martin, Investment Associate
Week Ending July 18th – The Open
The Consumer Price Index for June reaccelerated to 2.7% from 2.4% year-over-year. Part of this increase was due to an increase in energy costs, as well as goods that tend to be imported. For example, Appliances, Apparel and Tires all increased from the last CPI report. Meanwhile, Shelter expenses continued to decelerate, however, this was offset by an increase in medical care service expenditures.
The Producer Price Index for June decelerated to 2.3% from 2.7% year-over-year. Domestic services declined by -0.1 while domestic goods increased by 0.3 on a month-over-month basis.
Retail Sales for June increased by 0.6% which was 0.2% above analyst expectations. Additionally, this past quarter reported an increase of 4.1% which was 0.4% higher than the same period in 2024. Nonstore retailers and food and drinking places increased on a year-over-year basis by 4.5% and 6.6%, respectively.
Building Permits was inline with analyst expectations, June’s annual rate was 1.397Mln, which is 4.4% below June 2024’s report. Additionally, Housing Starts were also slightly below June 2024’s report.
The Week Ahead:
- Leading Economic Indicators (7/21)
- Existing Home Sales (7/22)
- New Home Sales (7/24)
- Manufacturing Indexes: Richmond Fed (7/22) & Kansas City Fed (7/24)
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