Services PCE Price Index Spikes, But Goods PCE Price Index Falls as Energy Prices Plunge: Core PCE Re-accelerates by Wolf Richter • Jan 27, 2023 • 73 Comments Services inflation is tough to stamp out, and it has taken over inflation. Powell will be talking about it.
Bank of Canada: “We’re Pausing to Assess Whether We’ve Done Enough,” Hikes by 1/4% to 4.5%, QT Continues by Wolf Richter • Jan 25, 2023 • 97 Comments Will pause if inflation projections pan out. If not, more rate hikes on the table. Frets about upside risks to inflation from services, labor market, China
Inflation Spikes to 41-Year High in Japan. BOJ’s Stubborn & Reckless Kuroda Lets it Rip by Wolf Richter • Jan 20, 2023 • 65 Comments But the architect of Abenomics will be outa there in April.
Services Inflation Spikes to 4-Decade High. CPI for Gasoline & Durable Goods Plunge by Wolf Richter • Jan 12, 2023 • 213 Comments Services are nearly two-thirds of consumer spending. That’s where inflation is now raging. The Fed has been talking about services for months.
Euro Inflation without Energy Hits Record, Services CPI Hits Record. Subsidies, Drop in Energy Push Down Overall CPI by Wolf Richter • Jan 6, 2023 • 81 Comments The ECB reacts to raging inflation, unloads a massive chunk of assets, hikes rates.
The Price of Easy Money Now Coming Due by Wolf Richter • Dec 25, 2022 • 216 Comments The Crazy Stuff & Asset Prices that arose during Easy Money are coming unglued as Easy Money ended.
PCE Price Index for Services Doesn’t Let Up. Goods Inflation Improves. Why Powell Is Frustrated with Inflation in Services by Wolf Richter • Dec 23, 2022 • 61 Comments Services inflation rages, but the durable-goods PCE price index had biggest month-to-month drop in years: yardstick for the Fed’s inflation target.
Fed Tightening Reduces Horrendous Wealth Disparity that QE and Interest Rate Repression Have Wrought: Fed Data by Wolf Richter • Dec 21, 2022 • 172 Comments The vast wealth of the top 1% households declined, the minuscule “wealth” of the bottom 50% increased a tad.
THE WOLF STREET REPORT: The Price of Easy Money Now Coming Due by Wolf Richter • Dec 18, 2022 • 188 Comments The Crazy Stuff & Asset Prices that arose during Easy Money are coming unglued as Easy Money ended.
Glimmer of Hope that Rate Hikes & QT Pushed Down Inflation or Just Another CPI Head Fake? (The Fed Warned on Head Fakes) by Wolf Richter • Dec 13, 2022 • 191 Comments Inflation in many services is red-hot. Health insurance CPI pushed down again by record mega-adjustment.
