Via the NYT: Rise in U.S. Inflation Likely to Keep Fed Cautious on Pace of Rate Cuts.
The Consumer Price Index, released on Thursday by the Bureau of Labor Statistics, rose 2.9 percent compared with the same time last year, the fastest annual pace since the start of 2025.
“Core” inflation, which the central bank tracks as a gauge of underlying inflation since it strips out volatile items like energy and food prices, steadied at 3.1 percent.
The overall measure of inflation rose 0.4 percent for the month, slightly higher than economists had expected. The core measure rose 0.3 percent.
From the piece:
Since I continue to believe that the single most important variable that explains the 2024 election outcome was the topic of inflation, it is frustrating (to put it mildly) to watch us go through all we are going through while also getting more inflation.
If only Trump had had the good sense to just maintain Biden-era policies and pretend that he was doing something (such as he is doing, taking credit for Biden-era infrastructure spending), we would all be so much better off.
