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Remix personal consumption expenditures data in Dallas and Cleveland show why Fed officials and markets feel better about the pricing picture.
- The one-month average annual lump sum is 1.4% vs. 2.7% previously (lowest this year)
- Six months on an annual basis, 3.0% compared to the previous 3.1%
- 12 months 2.8% compared to 2.9% previously
Looking at the numbers, some of the causes of inflation:
- Prescribed medication
- Tobacco
- Spectator sports
- Hospitals
- used trucks
Some factors causing deflation:
- Computer software and accessories
- gasoline
- Air transport
- Financial services fees
- Women’s and girls’ clothing
The only thing that hasn’t been cut is rent, which has risen by 4.8% a year and is still part of the inflation picture.
