Fed Favored Annual Core PCE Price Index Slightly Up, at 2.6%: Core Services Inflation 3.7%, Durable Goods Deflation -2.5% by Wolf Richter • Aug 30, 2024 • 72 Comments Month-to-month, core services inflation jumped while durable goods deflation deepened, and so core PCE price index hits Fed’s target.
Beneath the Skin of CPI Inflation: Broad Month-to-Month Acceleration, Services CPI Bounces Back from Outlier, Plunge in Durable Goods Prices Slows by Wolf Richter • Aug 14, 2024 • 208 Comments Housing CPI re-surged in July from the June outlier.
Services PPI & Core PPI YoY Were Pushed Down by Extreme Base Effect That’ll Flip Next Month for Rest of 2024 by Wolf Richter • Aug 13, 2024 • 109 Comments The whiplash-inducing month-to-month services PPI fell in July after hot readings in prior months. Core goods PPI is well-behaved.
Used Car & Truck Prices Suddenly Bounce, Inventories Tighten: End of Historic Plunge that Pushed CPI Inflation Down? by Wolf Richter • Aug 7, 2024 • 65 Comments That would be a bummer for CPI Inflation over the coming months.
Eyepopping Factory Construction Boom in the US Reaches New Highs amid Big Corporate & Strategic Rethink by Wolf Richter • Aug 1, 2024 • 70 Comments One of the big changes that came out of the chaos of the pandemic. And robots cost nearly the same anywhere.
Large Upward Revisions of “Core Services” PCE Inflation Pushed Six-Month “Core” PCE Inflation to 3.4%, Worst in a Year by Wolf Richter • Jul 26, 2024 • 142 Comments Fed’s Wait-and-See on rate cuts makes sense amid heavily revised whiplashy data and still too high inflation.
What the Short-Term Treasury Market Says about Rate Cuts, and How Repeatedly Wrong it Was so Far by Wolf Richter • Jul 13, 2024 • 128 Comments Inflation has the upper hand. The market (Goldman Sachs and me included) vastly underestimated the Fed. Someday the market might get it right.
Services PPI Inflation Dishes Up Another Nasty Surprise, 6th Month in a Row. Bottom of U-Turn was in December by Wolf Richter • Jul 12, 2024 • 56 Comments Services are huge, 62% of total PPI. We see parallels to early 2021, when this mess started. But core goods are well-behaved.
Beneath the Skin of CPI Inflation: Historic Plunge in Durable Goods Prices, Plunge in Gasoline, and Outliers in Services by Wolf Richter • Jul 11, 2024 • 93 Comments Core Services CPI produced 2nd outlier. In the past, after two outliers in this very volatile data, the next move was a U-turn.
Inflation Saga Far from Over: Services CPI in the Euro Area Refuses to Slow for 8th Month in a Row by Wolf Richter • Jul 2, 2024 • 66 Comments Lagarde frets over surging labor costs feeding into services inflation.
