US Unconventional CPI - 2026-02-12

The problem with looking at so many unconventional indicators of inflation is you get many divergent analyses, and you're not sure which to go with. But thinking like a juror in a civil trial and going with the preponderance of the evidence, we have to say we see some acceleration in the month of January as an isolated event, but smoothing with year-on-year returns a near-unanimous verdict that inflation is continuing to cool.