What I Read This Week…
CPI holds steady while PPI sees large monthly increase, Europe continues to lose IPO listings to the U.S., researchers develop an AI model that can detect inner monologue with 74% accuracy, and more.
Caught My Eye… 1) The Bureau of Labor Statistics reported that CPI increased 2.7% over the past year and 0.2% in July, broadly in line with expectations and signaling that inflation at the household level is steady. By contrast, PPI (producer prices) increased 3.3% year over year, with a 0.9% monthly increase that was the largest in several years and well above forecasts of 0.3% to 0.4%. What’s going on? CPI is calculated from a representative basket of goods and services, weighted by typical household spending, while PPI measures the prices producers and wholesalers receive for goods and…
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- Luis Garicano 🇪🇺🇺🇦 on X: "We stopped everything to write an answer (link below) to Paul Krugman's two posts of today (one informal, one with a simple model) arguing that Europe is broadly not falling behind the United States. The change measured by the Draghi report, he argues, is mostly due to growth" / Xx.com