Travis Hoium

That's the stuff that we feel as consumers.

So what stuck out to you in the data and kind of how do you wrap your head around it?

Tyler, one of the interesting things is the market does not really seem to care that the CPI is going up in particular.

And one of the pushbacks I always get when I post about this is, hey, as long as the hyperscalers continue to spend a trillion dollars, plus or minus, on building out this AI infrastructure, who cares if bananas are a little bit more expensive or it costs a little bit more to fill your gas tank?

There's a little bit of truth to that, but it also seems like it's a little worrying under the surface.

Yeah, it is a really interesting dynamic.

The other thing is that we have not seen a huge impact on the labor market, at least from an unemployment perspective.

Rachel pointed out that wages are not keeping up with inflation, at least in the last few months.

That could end up being an issue, but we haven't seen those layoffs because of AI yet.

So maybe things change if that comes to the fore.

When we come back, we are going to get to PPI and what those numbers look like.

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PPI, or the Producer Price Index, also came out this morning as we're recording.

And that was even more shocking when I saw those numbers.

Tyler, prices were up 1.4% in the month of April.

That was from a month ago.

That was not the year over year.

That was the month over month number.

Year over year was up 6%.