at Calculated Risk on 10/10/2024 09:20:00 AM
Here are a few measures of inflation:
The first graph is the one Fed Chair Powell had mentioned when services less rent of shelter was up around 8% year-over-year. This declined and is now up 4.4% YoY.
Click on graph for larger image.
This graph shows the YoY price change for Services and Services less rent of shelter through September 2024.
Services less rent of shelter was up 4.4% YoY in September, up from 4.3% YoY in August.
Commodities less food and energy commodities were at -1.2% YoY in September, up from -1.7% YoY in August.
Shelter was up 4.8% year-over-year in Septemberdown from 5.2% in August. Housing (PCE) was up 5.3% YoY in August, up from 5.2% in July.
The BLS noted this morning: “The index for shelter rose 0.2 percent in September, and the index for food increased 0.4 percent. Together, these two indexes contributed over 75 percent of the monthly all items increase.”
This is still catching up with private data.
Core CPI ex-shelter was up 2.0% YoY in September.