Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
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That’s been the thing about inflation, it’s been broadening across my Commodity Price Sample Baskets (part of our proprietary predictive tracking algos that helped us nail the Inflation Cycle, both ways) for an long investable time now. Consumer Price Inflation (CPI), per the US Government’s definition, continues to be understated at +5.4% year-over-year. The delta on reported “Rent Inflation” of +650 basis points (gov says +1.9%, REIT Rob @Hedgeye says +8.4%) is a glaring example of that which Rob Simone wrote about in a great Early Look last week. |
