{"id":231955,"date":"2024-06-13T18:48:18","date_gmt":"2024-06-13T18:48:18","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/06\/13\/all-down-instantaneous-core-inflation-measures-for-may\/"},"modified":"2025-06-25T17:17:12","modified_gmt":"2025-06-25T17:17:12","slug":"all-down-instantaneous-core-inflation-measures-for-may","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/06\/13\/all-down-instantaneous-core-inflation-measures-for-may\/","title":{"rendered":"All Down: Instantaneous Core Inflation Measures for May"},"content":{"rendered":"

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Core PPI under consensus (0% vs. +0.3% m\/m).<\/p>\n

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Figure 1:<\/strong>\u00a0Instantaneous inflation (T=12, a=4) per\u00a0Eeckhout (2023)<\/a> for core CPI (blue), chained core CPI, seasonally adjusted by author using X-13 (tan), PCE deflator (pink), CPI supercore (teal), PPI core (light green).\u00a0 Source: BLS, BEA via FRED, BLS<\/a>, and author\u2019s calculations.<\/em><\/p>\n

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Here\u2019s\u00a0 a detail.<\/p>\n

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Figure 2:<\/strong>\u00a0Instantaneous inflation (T=12, a=4) per\u00a0Eeckhout (2023)<\/a> for core CPI (blue), chained core CPI, seasonally adjusted by author using X-13 (tan), PCE deflator (pink), CPI supercore (teal), PPI core (light green).\u00a0 May PCE core for May is Cleveland Fed nowcast as of 6\/13. Source: BLS, BEA via FRED, BLS<\/a>, Cleveland Fed<\/a>, and author\u2019s calculations.<\/em><\/p>\n

Note that May observation for core PCE instantaneous inflation incorporates the Cleveland Fed nowcast.<\/p>\n<\/p><\/div>\n

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