INFLATIONARY PRESSURE CONTINUES IN THE UNITED STATES, AND CPI DATA DOES NOT REFLECT THE REAL SITUATION

Macroeconomic writer Mike “Mish” Shedlock pointed out that inflationary pressures in the United States are more persistent than the moderate CPI data suggest in July. Although the CPI report shows that inflation slowed in July due to a short fall in energy prices, Shedlock mentioned in her Wednesday blog that the temporary drop in energy and gasoline prices makes headline data look smaller. However, real inflation remains persistent, and food prices are underestimated under the methodology of the Bureau of Labor Statistics. He also noted that the index ignored key housing costs, such as property taxes, insurance and house prices. This may be a small increase in the CPI ring and a decline in the year-on-year ratio that could not be translated into a substantial softening of the dollar index, leaving little support for the Bitcoin (BTC). The encrypted currency continues to fluctuate below $64,000。