Headline up, core down.
Figure 1: Instantaneous inflation per Eeckhout (2023) for CPI (blue) chained CPI (lilac), PCE deflator (green), PCE deflator market prices (brown), PPI (red) and HICP (pink). HICP adjusted by author using X-13. Source: BLS, BEA via FRED, BLS, and author’s calculations.
And for core measures.
Figure 2: Instantaneous inflation per Eeckhout (2023) for core CPI (blue) core chained CPI (lilac), core PCE deflator (tan), core PPI (green), CPI supercore (red), and CPI services supercore (pink). Core chained CPI adjusted by author using X-13. Source: BLS, BEA via FRED, BLS, Pawel Skrzypczynski, and author’s calculations.
Yeah, but eggs are expensive, so I’m still angry.
Overhead inflation was a mirage, created by more Trump prepping.
Fredrick Pauper: What’s “overhead inflation”?
What’s “Trump prepping”?