Image Source: PixabayIn one picture. Prices of bacon, eggs, coffee lower than a year ago October, and gasoline lower than a year ago week ending November 13 (all normalized to July 1983=100).
Note: All series rescaled to July 1983 = 100.Every price is lower.More broadly, CPI for food at home, compared to headline CPI.
Figure 1: CPI all urban (blue), and CPI for food at home (tan), both 1982-84=100. NBER defined peak-to-trough recession dates shaded gray. Source: BLS via FRED, NBER.Food at home prices have risen at an annualized 2.4% over the last 3 months, compared to overall (headline) CPI inflation of 4.4%.More By This Author:GDP Q4 Nowcasts Of November 17thGDP And Interest Rate Forecasts And Recession From The SPFCPI Inflation In October
