Welcome to the Eric Erickson Show podcast, Our 2.

Yeah, that's absolutely true. Consumer Price Index for the month of June.

We're expecting a headline number to be in the neighborhood of up 3 tenths,

but I'm going to be paying most attention to the core up four tenths, our last look,

and I'll tell you why in a moment as we wait for these numbers to populate, and here we go.

If you look at the headline, up two tenths of 1%, up 2 tenths of 1%, and that, of course, comps to the up 1 tenth in of one percent up two tens of one percent and that of course

comps to the up one tenth in the rear view mirror it's a one tenth lighter than

expectations now CPI core X food and energy up two tens up two tens and that

that means it's not the fourth consecutive month up four tens and it also means it's not the fourth consecutive month up four tenths and it also means it's not the seventh month in a row of four tenths or higher and that was a record going all the way back the last time we had something along those lines was from October of 89 April 90, where it was nine in a row.

So we stopped that as well.

And up two tens on the core is the lowest level going all the way back to

bump but up to February, February of 21 when it was only up one 10.

And if we look at year over year, up 3%. That's Rick Santelli. He was on

CNBC this morning. Inflation up overall 3% year over year, up 4.8% excluding food and energy.

Now that's notable. Gas has come down 26.5%. Declined in prices. Use cars now down 5.2%. Costs of meat down

2 tenths of a percent. Cost of airfare down 18.9%. However, rent is up 8.9%. However, however, rent is up 8.3% year over year. Eating out, still up 7.7% year over year. Car maintenance costs up 12.7% year over year. Car insurance costs up 16.9% year over year.

The rent price, this is the problem with the people who do not feel it, the people who

are concerned about the economy, rent is still too high for too many people.

People just aren't feeling good.

Wages are up 4.4% the past year.

Inflation is up 3%.

That's good.

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