Image Source: PixabayWith the core PCE deflator, we have these measures of what’s happening to core.
Figure 1: Instantaneous inflation for core CPI (blue), chained core CPI (tan), supercore CPI (pink), services supercore (light green), PPI core (red), and PCE core (green), per Eeckhout (2023), T=12, a=4. Source: BLS, BEA, Pawel Skrzypczynski, and author’s calculationsMore By This Author:Business Cycle Indicators For Biden’s Economy In October When You Hear A Critique Of Mainstream Economists (From Someone Who Doesn’t Know What “Mainstream” Economists Do), Run QCEW Employment Change Y/Y To June 2024
