๐๏ธExciting news to start the week! ๐
.@stable_usdfi has seamlessly integrated Rango's widget in the USDFI swap v2, enabling interoperability across 50+ blockchains for its users! ๐ซ
Head to https://t.co/kyZNDCDhaa and experience effortless #crosschain swaps! ๐ฑ
About USDFI:
USDFI represents a new advancement in the field of #DeFi by offering the first live implementation of a foundational universal DeFi banking protocol powering a truly decentralized currency. The protocol is designed to provide a one-stop solution for all DeFi needs by bringing the entire DeFi experience under one roof.
๐จU.S. retail sales fell 0.8% in January (MoM)
US Monthly Retail Sales data was released from the US Census Department. The outcome was retail sales for January dropping 0.8% month on month in January which was much more than expected.
The drop in January is what we were expecting given the post-holiday blues with the market expecting 0.3% instead of the 0.8% MoM vs December. This also marks a significant reversal from December when MoM it went up 0.4% compared to November.
This reinforces what we see in https://t.co/4EG6dsNQg2 data: retailers in January were experiencing sales declines and launched / continued their promotional / discount activity to attract the shoppers which reduced the price of goods, especially in food and apparel, rather than a reversal of this trend the BLS reported.
More: https://t.co/VsXSY2OpS2
๐ Thrilled to announce our partnership with @exodus_io wallet! ๐ค
This partnership includes two major steps:
๐ธStep 1: XO Swap integrated into RangoโEmpowering you with Exodusโ XO Swap and Rangoโs multi-routing feature. Seamlessly access diverse blockchains like Tron, Solana, LTC, BTC, ETH and more in just one step! Try it now: https://t.co/aoyEMK10G2
๐ธStep 2: Rango's API will be integrated into Exodusโ All Exodus users can explore additional chains such as Solana, Osmosis, etc. with the best rates and a user experience that's as smooth as it gets. ๐โจ
๐ For more details, check our latest blog post ๐
https://t.co/1JGPLVUrin
๐ฌProblems with Government CPI Reporting for January 2024
The following categories make up nearly 50% of the US CPI index, and so these discrepancies have a significant effect on the overall inflation number, explaining the reason why our January BLS projection of 2.5% came in far below the reported number of 3.1%.
In particular, the discrepancy in food and housing will have a significant impact on the overall figure.
FOOD
When it comes to food, the issue is that the BLS looks at the price of an item and compares it to the price of that same item a month later. It doesn't take into account seasonal promotions, discounts, or even consumer downtrading (despite having a model for this). Truflation, on the other hand, bases its index on millions of price points to track the impact of various seasonal trends on prices, and our data shows that the food category, in fact, saw prices decrease by 0.58% MoM in January.
RENTAL PRICES
Even when it comes to rental prices, the BLS reports a much higher amount than our data suggests, since their sample is based on a limited number of interviews โ just 6,000 to reflect the entire country. Truflationโs number, on the other hand, is based on millions of rental renewals and new rental agreements every month across the entire country. We have been seeing some supply constraints, which are putting upward pressure on prices, but in general, we have seen rental costs coming down as new construction of residential properties is completed.
More: https://t.co/VsXSY2OpS2