U.S. Economic News

January 12, 2018

U.S. Economic Indicators

Consumer prices edged up 0.1% in December (up 2.1% on the year), mainly due to increases in shelter costs.  The “core” CPI, which excludes food and energy, rose 0.3% in December and is up 1.8% on the year.  BLS Report
Retail sales rose 0.4% in December and were up 5.4% on the year.  
Core sales — which excludes autos, gasoline, building materials, and food services — increased 0.3%. Census Bureau Report
Business inventories rose 0.4% in November and were up 3.2% from last year.  
Manufacturers’ sales increased 1.2% and were up 7.3% on the year. Census Bureau Report

U.S. News

The Wall Street Journal reports that in a recent survey, the vast majority of economists said that the U.S. is either close to or at full employment. While most economists see the labor market as tight, others point to subdued inflation and muted wage growth as evidence that there is still room for further tightening. WSJ