The unconventional measures show the same inflation acceleration -- with the exception of the ISM "prices paid" components, expectations-based measures that are decelerating or flat.
US Unconventional CPI
US Unconventional CPI
Wednesday, May 12, 2021
It's more useful than usual now to look at these unconventional measures. Using the median instead of the average reduces CPI from 4.2% to 2.2%. That implies just a small number of items are stinking up the joint.
US Unconventional CPI
Tuesday, April 13, 2021
When you come right down to it, the fancy alternative inflation measures all boil down to different techniques for underweighting oil. So predictably, they don't ratify this morning's big headline CPI number.
US Unconventional CPI
Wednesday, March 10, 2021
The unconventional measures make it clear there's no underlying inflation showing up in the data yet -- all the action is in "flexible" prices like energy and commodities.
US Unconventional CPI
Wednesday, February 10, 2021
The unconventional measures show sticky prices being sticky, and flexible prices starting to really move up.
US Unconventional CPI
Wednesday, January 13, 2021
Sluggish unconventional measures confirm that December was the weakest month of Q4-2020.
US Unconventional CPI
Thursday, December 10, 2020
These alternate measures confirm the headline numbers -- reflation has stalled out in November.
US Unconventional CPI
Thursday, November 12, 2020
It's unanimous. The unconventional indicators say the same thing as the conventional ones -- the post-lockdown reflation is stalled.
US Unconventional CPI
Tuesday, October 13, 2020
Some of the unconventional indices suggest the Fed may not have revived inflation as much as we thought.
US Unconventional CPI
Friday, September 11, 2020
Most of the alternate gauges show the Fed has done an even better job than we thought at forestalling deflation. Time will tell -- too good a job?