McCormick & Company ( MKC ) at $72, discounting a 9% growth rate the same as the sell side average, while only being 9% undervalued if the present 30-year long bond is used. The result was that the net present valuations of the stocks I was looking at were raised by 7-12%, depending on the levels of their expected earnings growth. Within the past week, I have seen that June CPI data show that car parts are down 1.5% for six straight months of decline versus their 3-4% average increases in the last few years.