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September 22, 2021

The monthly rate of change in the Consumer Price Index has been slowing but a more detailed look at the inflation picture suggests that this will likely be temporary, and the index will likely increase in coming months.

The rate of monthly increase in the Consumer Price Index (CPI) during August slowed month over month to 0.30%, the smallest increase since January 2021.  The month-over-month (MoM) increase peaked in July at 0.90% and this has led to some discussion as to whether inflation may have peaked.  Looking at the underlying CPI data and...
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