Tom Burton (YouTube) comments on the November Consumer Price Index release, noting the headline 2.7% year‑over‑year reading came in lower than expected but may be misleading due to incomplete/technical data and likely future revisions. He warns that initial optimism from the headline could be reversed once data are revised and more complete information arrives.
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This is hilarious. That's what we hear about the news. The news as of there. Well, so let's start off. Consumer Price Index. This is hilarious. So the Consumer Price Index for November was released yesterday. A 2.7% annual rate, year over year, annual rate lower than expected. But then you start reading between the lines and they said, well, we really didn't have all the data anyways. Yes. And make up some things. And there's already been a couple of, I think at least one, maybe two Fed governors that have come out and said, well, I don't think it's really that low because there was some technical data in here that isn't quite right. So what does that tell me? But I, I think we can just be expected for a nice big jump come January and, you know, some sort of revision or something. Something to this here, so. Well, that's the craziness of it. All. Right. Is the revisions. The craziness here is the revisions that we keep. It's irritating to me because, you know, you read this at first, if you read the headline, you're like, okay, things are looking definitely in the right direction. This was 4, 10 of a point less than what was quote, unquote expected. And then you kind of start peeling the onion and you find out maybe this data is not very good.
