Highest CPI from 1982 - US CPI 7% but no help for $

• Prior was 6.2%
• m/m CPI +0.5% vs +0.4% expected
• Prior m/m reading was +0.8%
• Real weekly earnings +0.1% vs -0.2% prior (prior revised to -0.4%)

Core inflation:

• Ex food and energy +5.5% vs +5.4% y/y expected
• Prior ex food and energy +4.9%
• Core m/m +0.6% vs +0.5% exp
• Prior core m/m +0.5%

Some notable categories:

• New vehicles +1.0% m/m
• Used cars and trucks +3.5% m/m (and +37.3% y/y)
• Apparel +1.7%
• Shelter +0.4%
• Gasoline -0.5%
• Food +0.5%

Gold is UP