John Lonski: The Annual Rate of Core CPI Inflation, 2.5% in July, That’s Back to Where It Was Prior to the Start of the Iran Conflict

RUSH EXCERPT:
LONSKI: "It seems to me this is pretty good news. It is good news, and I could not help but note that the annual rate of core CPI inflation —that’s excluding food and energy—we want energy out of it because of the matter in Iran. Take that up 2.5 percent in July. That’s back to where it was prior to the start of the Iran conflict This tells me that inflation is not spreading beyond gas prices"