Image Source: PixabayAll measures decelerate.
Figure 1: Instantaneous inflation (T=12, a=4) per Eeckhout (2023) for CPI (bold black, chained CPI (sky blue), PCE deflator (tan), PCE deflator with market based prices (red). Chained CPI seasonally adjusted by author using X-13. Source: BLS, BEA via FRED, and author’s calculations.More By This Author:Business Cycle Indicators As Of End-May Recession Watch: In Which I Agree With ZeroHedgeImmigration, Recovery And Inflation
