{"id":260098,"date":"2024-09-18T21:26:16","date_gmt":"2024-09-18T21:26:16","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/09\/18\/instantaneous-headline-inflation-cpi-pce-hicp\/"},"modified":"2025-06-25T17:11:15","modified_gmt":"2025-06-25T17:11:15","slug":"instantaneous-headline-inflation-cpi-pce-hicp","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/09\/18\/instantaneous-headline-inflation-cpi-pce-hicp\/","title":{"rendered":"Instantaneous Headline Inflation: CPI, PCE, HICP"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div id=\"post-53781\">\n\t\t\t\t<!-- .entry-header --><\/p>\n<div class=\"entry-content\">\n<p>With US HICP out today:<\/p>\n<p><span id=\"more-53781\"\/><a href=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/09\/instantpix8.png\"><img fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-53782\" src=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/09\/instantpix8.png\" alt=\"\" width=\"849\" height=\"561\" srcset=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/09\/instantpix8.png 849w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/09\/instantpix8-300x198.png 300w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/09\/instantpix8-768x507.png 768w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/09\/instantpix8-624x412.png 624w\" sizes=\"(max-width: 849px) 100vw, 849px\"\/><\/a><\/p>\n<p><em><strong>Figure 1:<\/strong> Instantaneous inflation (T=12, a=4) for CPI (bold blue), PCE deflator (brown), and HICP (green), per <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=4554153\">Eeckhout (2023)<\/a>. Tan dashed horizontal line at 2% target for PCE deflator, blue dashed line corresponding target for CPI, HICP, assuming 0.5 ppts difference. Source: BLS, BEA, Economic Commission, and author\u2019s calculations.<\/em><\/p>\n<p>A key difference between US CPI and US HICP is that the latter does not include cost of shelter.<\/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-headline-inflation-cpi-pce-hicp\" title=\"10:37 am\" rel=\"bookmark\"><time class=\"entry-date\" datetime=\"2024-09-18T10:37:53-07:00\">September 18, 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-headline-inflation-cpi-pce-hicp\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] With US HICP out today: Figure 1: Instantaneous inflation (T=12, a=4) for CPI (bold blue), PCE deflator (brown), and HICP (green), per Eeckhout (2023).<\/p>\n","protected":false},"author":1,"featured_media":260099,"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\/260098"}],"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=260098"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/260098\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/260099"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=260098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=260098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=260098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}