Inflation drops to 6%, but housing costs remain high—and the Fed is still watching ‘supercore’ inflation
By : Mahi
According to Labor Bureau data, the most recent inflation figures are in line with predictions,
declining to 6% year-over-year while "supercore" inflation increased somewhat.
With the exception of housing, food, and energy expenses, supercore inflation is a novel term used by economists to describe
the cost of services such as going to the dentist or getting a haircut. Supercore price rise was singled out by Federal
Reserve chair Jerome Powell as the "most essential category" for comprehending the "future trajectory"
of inflation in a speech last November, indicating that the idea has been a source of concern for some time.
"Supercore" services inflation in February increased 0.2% for the month and was 4% higher than it was a year earlier.
Overall inflation is lower than it was last year, but the consumer prices index shows that the underlying monthly
change in the price of all goods and services climbed by 0.4% in February after increasing by an average of 0.6% per month during the previous six months (CPI).
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