Top-of-mind economic news as we start the week:
— June U.S. inflation hit the lowest levels in two years: 3% for consumer prices (CPI) and 2.1% wholesale (PPI); consumer “core” inflation (minus energy and food) was much higher at 4.8%.
— U.S. job openings fell by nearly 500,000 in June to 9.8 million, a sign that the tight labor market may be loosening a bit.
— The cost of used electric cars has plummeted by nearly 30% since June of last year, driven by Tesla price cuts on new production.
— Average new home prices in June for China’s 70 major cities were flat vs. a year ago, despite government efforts to revive the real estate market.
— ESG is a top priority of procurement executives worldwide, 2nd only to operational efficiency, per recent Deloitt survey; ESG was 7th in 2021 survey.
