Professor Glenn A. Okun
Ignore the financial press on CPI. You will see headlines indicating that core CPI has increased for the first time in six months. This is true but notice that the major increase in CPI is due to energy and commodity price inflation.
Tomorrow’s Personal Consumption Expenditures Price Index (PCE) will be important. This is the Fed’s favorite inflation indicator. It will put today’s CPI into a context.
The Rabid Capitalist 
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