“A front-loaded and strong additional monetary tightening.”
Americans trying to buy a new vehicle will end up paying more.
These manias and the rising long-term yields are on collision course.
With actual house price inflation based on market data, overall CPI would have jumped by 3.7%. Lifting the cover on the deception to keep CPI low.
Durable goods inflation +3.3%. Food inflation +3.4%. Services inflation rising, but still held down by battered airline fares, lodging, event tickets, etc. — until people start traveling and going to events again.
Inflation worming through various levels of the economy despite suboptimal demand.
If folks say they see no inflation, they should look at industry reports now bragging about steep price increases. And consumers are willing to pay those prices – the sign of a sea change.
Spiking prices for new and used vehicles under the microscope.
There is still the theme that some of it is just temporary.
For now, the story is that it’s just temporary.