“Core Services” Inflation Jumps to 2nd Worst since 1985, “Non-Housing Services” Are Red Hot. Fed’s Job Far from Done by Wolf Richter • Aug 31, 2023 • 172 Comments Durable goods prices fall. Fed favored “core” PCE price index re-accelerates.
Powell Smacks Down Calls to Raise 2% Inflation Target: “2% Is and Will Remain our Inflation Target” by Wolf Richter • Aug 25, 2023 • 218 Comments Fretted about the re-accelerating economy flying above the “below-trend” growth required to get to 2%. “We will keep at it until the job is done.”
Ten-Year Treasury Yield Hits 15-Year High, Market Wades out of Denial, Sees “Higher-for-Longer,” Tsunami of Issuance, QT by Wolf Richter • Aug 16, 2023 • 205 Comments “Higher for longer be damned”: consumers and businesses.
UK Services Inflation Spikes to 40-Year High. A Global Phenomenon: All Heck Has Broken Loose in Services by Wolf Richter • Aug 16, 2023 • 56 Comments But motor fuel prices plunge, and inflation in durable goods and food cools – same as everywhere.
End of “Disinflation” Honeymoon: CPI Accelerates YoY. Core Services CPI Accelerates MoM. Durable Goods Prices Normalize at Nosebleed Levels by Wolf Richter • Aug 10, 2023 • 180 Comments Core services inflation at 6.1% year-over-year; Core CPI at 4.7%. Three factors make it rough for CPI the rest of the year.
A Word about the Odious Ridiculous Massive Adjustments to Health Insurance CPI, which Now Collapsed to Jan 2019 Levels by Wolf Richter • Aug 10, 2023 • 133 Comments It turned Medical Services CPI negative, pushed down core services CPI, core CPI, and overall CPI. But it will swing the other way in October.
Powell’s Nightmare: Wage Growth, after Signs of Losing Altitude, Re-Accelerates by Wolf Richter • Aug 4, 2023 • 216 Comments Inflation is just going to stick around for a while, it seems.
Runaway Services Inflation in Euro Area Spikes to Record. Core CPI Stays Near Record. Energy-Price Plunge Pushes Down Overall CPI by Wolf Richter • Jul 31, 2023 • 70 Comments “The drivers of inflation are changing…. Domestic price pressures, including from rising wages and robust profit margins,” are increasingly important: ECB
Fed Favored “Core” PCE Price Index Rises 4.1%, Least since Sept 2021, on Drop in Durable Goods. But Monthly Services Inflation Accelerates by Wolf Richter • Jul 28, 2023 • 201 Comments Housing, finance, insurance, recreation, other services jumped in June from May. Energy plunged 28% year-over-year, but also jumped in June from May.
Companies See “Sticky” Inflation in July in Services, as they Pass on Surging Input Costs, Including Higher Wages by Wolf Richter • Jul 24, 2023 • 124 Comments Inflation in goods has abated, but it remains hot in services: US companies.
