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Pandemic-Linked Inflation Categories Retreat In July

US DATA

Some pandemic reopening components seen lower and slower across the board M/M in July, with car/truck rental and airfares notably reversing This is key to the "transitory" narrative and helped drive the core CPI miss:


AirfaresLodgingUsed CarsNew CarsCar/Truck Rental
Jul-21-0.146.760.221.76-4.62
Jun-212.737.9010.491.895.18
May-216.980.437.291.6312.10
Apr-2110.178.7810.040.2616.19
Mar-210.444.420.55-0.2711.75
Feb-21-5.09-2.71-0.900.027.38
Jan-21-3.18-2.18-0.89-0.48-1.08

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