Mind The Sticky CPI

The essence of the December CPI report is embodied in the split-screen chart below. The BLS’ so-called “sticky price” index (purple line), which accounts for 70% of the weight, continued to accelerate, rising at a +6.5% Y/Y rate. That’s the largest gain since July 1982. By contrast, the “flexible price” index (black line) declined at […]
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