June CPI Confirms what Consumers Already Feel
The U.S. Department of Labor released the June CPI Report this morning, with results showing a second consecutive month with prices rising at record levels.
LikeFolio data shows that U.S. consumers are already keenly aware of this trend. Inflation fear is at a record high level.
Mentions expressing uncertainty and concern about inflation have continued to grind higher: +30% QoQ and a notable +157% YoY on a 90-day moving average.
The ceaseless upward trajectory represents a troubling increase in fear...However, it also indicates that consumers could increasingly forgo holding USD in favor of alternative assets.
The stock market is flat today, but Monday’s record high close suggests that the looming specter of monetary inflation serves as a net positive for equities.