OER weighs 26% of CPI, 33% of core CPI, 44% of core services CPI. It moves the needle. CPI inflation would have been a lot hotter without this outlier.
But profits are still huge after the pandemic free-money spike, except in auto manufacturing where losses pile up. Financial industry profits hit new record.
Fed’s Nightmare, but it’ll cut anyway: CPI, Core CPI, and Core Services CPI all over 4% annualized. Goods prices spiked for Used Vehicles, Food, Gasoline.
