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September 21, 2022

Inflation remains elevated, but there are several indicators that suggest it will likely continue to decelerate on a rate of change basis.

The headline Consumer Price Index number came in at 8.3% y/y for the month of August. While still at elevated absolute levels, it was a rate of change deceleration from 8.5% in July and 9.0% in June. On a m/m basis, CPI accelerated 0.12%, following -0.02% in July. Food prices accelerated 11.4% y/y, but the...
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