{"id":259526,"date":"2024-09-12T17:29:16","date_gmt":"2024-09-12T17:29:16","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/09\/12\/instantaneous-core-inflation-with-ppi-and-nowcasted-pce-deflator\/"},"modified":"2025-06-25T17:11:21","modified_gmt":"2025-06-25T17:11:21","slug":"instantaneous-core-inflation-with-ppi-and-nowcasted-pce-deflator","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/09\/12\/instantaneous-core-inflation-with-ppi-and-nowcasted-pce-deflator\/","title":{"rendered":"Instantaneous Core Inflation, with PPI and Nowcasted PCE Deflator"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div id=\"post-53642\">\n\t\t\t\t<!-- .entry-header --><\/p>\n<div class=\"entry-content\">\n<p>With the PPI release, and Cleveland Fed PCE nowcast as of today:<\/p>\n<p><a href=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/09\/instantcore8.png\"><img fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-53643\" src=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/09\/instantcore8.png\" alt=\"\" width=\"835\" height=\"561\" srcset=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/09\/instantcore8.png 835w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/09\/instantcore8-300x202.png 300w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/09\/instantcore8-768x516.png 768w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/09\/instantcore8-624x419.png 624w\" sizes=\"(max-width: 835px) 100vw, 835px\"\/><\/a><\/p>\n<p><em><strong>Figure 1:<\/strong> 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 <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=4554153\">Eeckhout (2023)<\/a>, T=12, a=4. August observation for PCE deflator is nowcast as of 9\/12\/2024 (yoy measure). Horizontal red dashed line at 2% <\/em><strong>PCE inflation<\/strong><em> target (for CPI should be about 2.5%). Source: BLS, BEA, <a href=\"https:\/\/sites.google.com\/view\/pskrzypczynski\/home\/cpi-core-services-less-shelter-inflation-in-the-u-s\">Pawel Skrzypczynski<\/a>, <a href=\"https:\/\/www.clevelandfed.org\/indicators-and-data\/inflation-nowcasting\">Cleveland Fed<\/a>, and author\u2019s calculations.<\/em><\/p>\n<\/p><\/div>\n<p><!-- .entry-content --><\/p>\n<footer class=\"entry-meta\">\n\t\t\tThis entry was posted on <a href=\"https:\/\/econbrowser.com\/archives\/2024\/09\/instantaneous-core-inflation-with-ppi-and-nowcasted-pce-deflator\" title=\"9:54 am\" rel=\"bookmark\"><time class=\"entry-date\" datetime=\"2024-09-12T09:54:23-07:00\">September 12, 2024<\/time><\/a><span class=\"by-author\"> by <span class=\"author vcard\"><a class=\"url fn n\" href=\"https:\/\/econbrowser.com\/archives\/author\/menzie_chinn\" title=\"View all posts by Menzie Chinn\" rel=\"author\">Menzie Chinn<\/a><\/span><\/span>.\t\t\t\t\t\t\t\t<\/footer>\n<p><!-- .entry-meta -->\n\t<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/econbrowser.com\/archives\/2024\/09\/instantaneous-core-inflation-with-ppi-and-nowcasted-pce-deflator\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] With the PPI release, and Cleveland Fed PCE nowcast as of today: Figure 1: Instantaneous inflation for core CPI (blue), chained core CPI (tan),<\/p>\n","protected":false},"author":1,"featured_media":259527,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[155],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/259526"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=259526"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/259526\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/259527"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=259526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=259526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=259526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}