US Manufacturing Falls To Second Lowest Level Since The Crisis

U.S. manufacturing grew at the slowest pace since the economy emerged from the financial crisis in 2009 this July, new data out of MarkitEconomics shows. The headline manufacturing index declined 80 basis points during the month to 51.8. Economists polled by Bloomberg had forecast a narrower fall to 52.0. New orders and output both expanded in July, but did so at lower rates that recorded at the start of the summer. Read more >>

Food inflation is far worse in grocery stores than restaurants

Image by Getty Images via @daylifeAccording to the latest government figures, the consumer price index for food at home increased by 60 basis points year-over-year to 6% versus the 10 basis point gain in food away from home CPI inflation to 2.7%.

Food inflation is now the most important household expense, according to Wal-Mart's (WMT) commentary during its earnings call last month. Food prices, according to the Bureau of Labor Statistics, continue to accelerate higher. The charts below illustrate food cost trends and food cost trends versus core inflation. It's worth noting that the spread between food at home inflation and core inflation widened month-over-month while the spread between food away from home and core inflation narrowed. More...