Weekly Economic Perspectives

The latest data brought additional evidence that US consumer price inflation might be peaking. The headline inflation rate eased a tenth to 5.3% y/y in August, while the core rate (excluding food and energy) eased three tenths to 4.0% y/y. These moves will surely fuel at least some claims that the transient nature of the current inflation episode has been already demonstrated…but do not count us among those making such claims.