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what’s happening wednesday
deepening energy crisis in europe: the rhine is getting so shallow, it's getting almost impossible to make transports on schedule (coal, components, chemicals, commodities, etc.) – this will likely be a theme in europe for quite some time
july consumer price index (click here for the data!): the median forecast is an annualized inflation rate of 8.7% and an increase of 0.2% from june
there is a real debate going on as to whether inflation's cooled off in july
one on hand, with the big drop in gasoline price (and may continue for the next few weeks due to decreasing global demand), some are saying the headline cpi number to be lower than core cpi
(the core cpi calculation excludes food and energy prices)
but others say that what will matter more is higher wages taking effect – high nominal wage growth naturally accelerating inflation, especially as mortgages got cheaper recently along with gas and the overal economic landscape has eased a lil' bit
💡 something im thinking about
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