00:00It looks like we have the possibility of a Fed rate increase ahead. Core CPI up three-tenths of
00:06a percent, more than the two-tenths that was forecast and two-tenths that we saw in July.
00:10The headline CPI up four-tenths for the month, which is as forecast, pushes the CPI year over
00:18year on a headline basis to 3.4 percent, or leaves it rather at 3.4 percent. And the core
00:24goes to 2.4 percent, even though we saw the greater-than-expected increase in the monthly
00:30number. Base effects keep it at 2.4. That's down a tick from last month. So maybe I'm overdoing
00:36things, but we'll see what happens when we get the Fed funds people trying to figure out
00:44what's going on. A couple of the quick numbers here for you. Food at home comes in flat on the
00:50month, which is a little bit of a surprise. There was an expectation it would rise. Gasoline
00:56is up by 3.9 percent. Energy commodities overall, 4.2 percent. Electricity, which goes into the
01:05PCE, down two-tenths of a percent. Goods up by a tenth of a percent. Services up by three-tenths
01:13of a percent. And shelter costs up by three-tenths of a percent. New cars, they do go into the
01:21PCE up three-tenths. Used cars and trucks up four-tenths. Apparel, the last one that does
01:28go in, down two-tenths. So some of the things that go into the PCE construction, lower than
01:33anticipated.
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