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Yes, We Have No Inflation, Not Quite

Summary:
"U.S. Consumer Prices Unchanged in June!" trumpeted the Wall Street Journal, with similar headlines coming from the rest of the media. Yes, we have no inflation! That's the mantra we keep hearing, and it was reinforced by the CPI release for June. Whenever I see these headlines it reminds me of the old Ragtime song, Yes, We Have No Bananas, sung by Al Jolson. We got everything else, but we have no inflation today.

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"U.S. Consumer Prices Unchanged in June!" trumpeted the Wall Street Journal, with similar headlines coming from the rest of the media. Yes, we have no inflation! That's the mantra we keep hearing, and it was reinforced by the CPI release for June. Whenever I see these headlines it reminds me of the old Ragtime song, Yes, We Have No Bananas, sung by Al Jolson. We got everything else, but we have no inflation today.

About Lee Adler
Lee Adler
Editor and publisher of the Wall Street Examiner- http://wallstreetexaminer.com and The Wall Street Examiner Professional Edition, a proprietary service for professional investors and sophisticated individual investors.

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