There is a feeding frenzy in the news. Inflation is up, oil prices keep climbing….The world is ending… Let’s break down the numbers and take a deep breath.

Yes the CPI August Consumer Price Index which measures overall inflation increased 0.6%, and was in line with expectations. The Core CPI decreased from 4.7% to 4.3% again as expected.

Energy prices rose by 7.3% Y/Y, and was down from 7.7%.

Rents rose 0.5% last month and up 7.8% Y/Y but down from 8%.

Lodging away from home also fell 3%.

A wealth of data flows in, yet many news outlets seem reluctant to delve deeper into the true essence and beauty of the data. It’s akin to observing a single bird soaring through the sky, swiftly changing course from left to right. Only when you step back and broaden your perspective do you witness the mesmerizing spectacle of a flock of birds engaged in a graceful ballet.

We are headed in the right direction. The FEDs will most likely pause on the rate hikes in September given the true long term data that has been coming in this year.