Image Source: PexelsPrices are up relative to January 2021, but not relative to January 2024:
Figure 1: CPI – food at home (blue), ERS forecast as of January (red triangle), ERS forecast as of July (light blue square), Chained CPI – food at home (light green), all normalized to 2020M01=1.00. Source: BLS, USDA ERS, and author’s calculations.More By This Author:The Partisan Split In August Sentiment
Business Cycle Indicators – NBER and Alternative – Mid-July 2024
One Year Ahead CPI Inflation Expectations down in July for Consumers, Firms, Economists
