Taps Coogan – August 4th, 2021
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Wondering how long “transitory” inflation might last for? Here are a few clues:
The total business inventory-to-sales ratio is at the lowest level in a decade.
US Total Business Inventory to Sales Ratio
The US auto inventory-to-sales ratio is at the lowest level on record by a country mile.
US Auto Inventories-to-Sales
The US retail inventory-to-sales ratio, excluding autos and auto parts, is at the lowest level on record.
US Retail Inventory-to-Sale Excluding Autos and Auto Parts
Baring a crash in retail sales, the restocking cycle needed to just get back to normal on these charts is going to take years of resource-intensive investment.
Inflation may be peaking for now, but don’t expect it to get below the Fed’s target anytime soon.
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Thanks for pointing out an interesting trend that merits some thought.
My pleasure 🙂