Worst Monthly Spike of “Core Services” PCE Inflation in 22 Years, and Not Just Housing: Powell’s Gonna Have Another Cow by Wolf Richter • Feb 29, 2024 • 295 Comments Core services inflation dished up bad head fakes last time we had this mess in 1966-1982. Mention of a rate hike crops up in a Fed speech.
Higher for Longer Inflation & Interest Rates Not Over Until the Fat Lady Sings? Waiting for the 2-Year Treasury Yield to Overshoot by Wolf Richter • Feb 18, 2024 • 214 Comments Four decades of history say it’s not over until the 2-year yield overshoots the EFFR. It has undershot for a year, and inflation is taking off again.
PPI Inflation Spikes in Services and Finished Core Goods, Very Disconcerting by Wolf Richter • Feb 16, 2024 • 138 Comments Reheating services inflation isn’t a surprise. But the PPI for finished core goods saps hopes for goods “deflation” to hold down overall inflation.
Beneath the Skin of CPI Inflation, January: Powell’s Gonna Have a Cow when he Sees the Spike in “Core Services” Inflation by Wolf Richter • Feb 13, 2024 • 291 Comments But that’s how inflation is, once out of the bottle: It serves up nasty surprises.
Used-Vehicle Wholesale Prices Give Up 55% of Pandemic Spike: Historic Plunge after Crazy Spike by Wolf Richter • Feb 7, 2024 • 72 Comments But the plunge in retail prices of used cars and trucks hasn’t progressed nearly as much.
Great to Have a Good Job Market with Surging Wages, but Rate-Cut Mania Takes a Hit. And We Fret about Inflation Reheating by Wolf Richter • Feb 2, 2024 • 163 Comments It’s not just the top 10% or whatever who got the wage increases.
On the Surface, PCE Inflation Is Encouraging, But Beneath it, Core Services Accelerated, Housing Stuck at 5.7% for Six Months by Wolf Richter • Jan 26, 2024 • 106 Comments And a look back at the head-fakes core services inflation dished up last time with this type of inflation.
Inflation in Canada Refuses to Cooperate with Rate-Cut Bets by Wolf Richter • Jan 16, 2024 • 111 Comments Bank of Canada’s two preferred measures of underlying inflation accelerated, tripping up widespread expectations of cooling.
Beneath the Skin of CPI Inflation, December: Not in the Mood to Just Go Away by Wolf Richter • Jan 11, 2024 • 228 Comments The action is in services. But now new & used vehicle prices are rising again. And energy. Food edges to new painful high.
Fly in the Ointment: Month-to-Month Rent Inflation Accelerated, Stuck at 6%+ Annualized since March by Wolf Richter • Dec 22, 2023 • 115 Comments But overall and “core” PCE price indexes decelerated, on plunging gasoline prices, a dip in food prices, and a big drop in durable goods.
