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But Y/Y Dispersion Sees Some Progress For Hot Core Services [2/2]

US DATA
  • Taking a step back and looking in Y/Y terms, the share of core services seeing inflation in excess of 3% Y/Y fell from 70% to 65% in April.
  • It comes close to its recent low in Dec’23, prior to which it was last lower in Apr’22, but its still far above the 38% averaged in 2019.
  • There was better news though with the share of those running particularly hot, in excess of 4% Y/Y, which fell from 13.8% to 11.0% for its lowest since Dec’21.
  • Nevertheless, there's still a gulf in the breadth of stickiness in core services relative to core goods.


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