Inflation has been sighted in the US at last! The Producer Price Index (less) less the volatile food and energy measures rose to its highest level since February 2012.
The question is … when will it show up in the Core PCE price YoY measure that languished at 1.51%?
Of course, cost-of-living varies dramatically across states with largely west coast and northeast coast states having the highest cost-of-living. Let’s see what happens in these states if inflation REALLY gets hot, hot, hot.