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NY Fed On Inflation Persistence - Dec Update

FED
  • In a post published today updated with December’s PCE data (here), NY Fed economists find that their Multivariate Core Trend (MCT) of inflation ticked up modestly from 3.6% in Nov to 3.7% in Dec, broadly stabilising in Q4 after sizeable declines from ~5% earlier in 2022.
  • This MCT focuses on inflation persistence, stripping out common and sector-specific transitory shocks.
  • The main upward contribution on the month came from housing whilst the contribution from services ex-housing was little changed.

Source: NY Fed

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