And this just in to kill any speculation that wages were finally beginning to rise... http://www.bloomberg.com/news/articles/2015-07-31/worker-pay-in-u-s-rises-0-2-smallest-gain-in-records-to-1982 And to add insult to injury:Stock-index futures rallied after the report.
It's interesting that you always hear that on the one hand we're still short of the Fed's 2% target, but on the other hand that housing, healthcare, and education have out of control prices increases (and for a long time for the two former). What gives? Housing is considered in the CPI, if I'm not mistaken, no?
- FOOD AND BEVERAGES (breakfast cereal, milk, coffee, chicken, wine, full service meals, snacks) - HOUSING (rent of primary residence, owners' equivalent rent, fuel oil, bedroom furniture) - APPAREL (men's shirts and sweaters, women's dresses, jewelry) - TRANSPORTATION (new vehicles, airline fares, gasoline, motor vehicle insurance) - MEDICAL CARE (prescription drugs and medical supplies, physicians' services, eyeglasses and eye care, hospital services) - RECREATION (televisions, toys, pets and pet products, sports equipment, admissions); - EDUCATION AND COMMUNICATION (college tuition, postage, telephone services, computer software and accessories); - OTHER GOODS AND SERVICES (tobacco and smoking products, haircuts and other personal services, funeral expenses).