US Inflation: Great Progress, But Risks Remain

<p>Headline inflation is now a fraction of its peak level; however, by itself, shelter’s contribution is greater than the FOMC’s 2.0%yr target. In June, both the headline and core CPI outcomes were below expectations at 0.2%, leaving the respective annual rates at 3.0%yr and 4.8%yr, materially below their 2022 peaks of 9.1%yr and 6.6%yr. The […]</p>
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