The Consumer Price Index (CPI) rose 0.1% in August. This is a measure of inflation and indicates prices are rising. Of course, that increase changes depending on the composition of the basket of goods being measured. Leave out food and energy and we see a higher number (0.3%). Rising oil prices should hit this stat in September.
Retail sales increased a healthy 0.4% in August. Consumers are holding up the economy as they keep their wallets open. Consumer Sentiment came in at 92.0, higher than the 89.8 measure in July. This helps to explain the higher retail numbers. Whether this trend continues will determine the Christmas retail season and the health of the economy in 2020.
The Empire State Index fell in August, dropping from 4.8 to 2.0. This is a combined stat that measures sentiment among executives. The drop is significant but is still in positive territory.
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