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10th Jan 2024 21:11U.S., Daily Monitor

  • Unsustainable gains in used auto prices, airline fares, and rents explain the solid December core CPI…
  • …But core PCE matters much more to the Fed, and it likely rose by much less than the core CPI.
  • Further downward pressure on core PPI inflation requires falling margins, and/or slower wage growth.

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Keywords for: 12 January 2024 US Monitor

Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence