It was a light week in economic news.

Thursday the PPI (producer price index) was unchanged with the core number up 0.1%.

Friday the CPI number was announced up 0.2% with a core rate of 0.2%. This after 2 months of big increases was helpful to soothe worries of inflation.

This was good for mortgage rates which had moved up early in the week.

Other news that we track is gas and other energy prices declined after 2 strong months, along with food prices declining, was welcome news to assuage the fear of inflationary pressures. Nice sigh of relief.