Thursday, August 18, 2011 8:50 AM – Inflation and Jobs #s

The Consumer Price Index 0.5% for July and 3.6% for the last 12 months. Of course, food and energy were up most and Core CPI was 0.2%. Oil prices have come down somewhat in August but food has continued higher.

Jobless claims came in at 407,000 which was higher than last week. Don’t get too concerned about weekly numbers. They are volatile and are really just noise.

Morgan Stanley joined the growing chorus of those forecasting another recession.