The Monday Mix: Aug. 8 – 14, 2022
Top-of-mind economic headlines as we start the week:
— U.S. consumer prices were essentially flat in July (-0.02%) vs. a 1.3% rise in June, as the drop in gas prices offset gains in the cost of food and shelter.
— U.S. wholesale prices fell in July (-0.5%) for the first time in two years, as the drop in gas prices slowed the rate of inflation.
— U.S. consumer sentiment improved slightly in July after hitting an all-time low in June, driven by improving expectations among low- and middle-income households.
— Chinese retail sales and industrial production were much lower than expected in July, indicating underlying economic weakness.
— Chicago intends to power all city operations with renewable energy within three years – including all city buildings, airports, and streetlights.
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