Headline Inflation Falls, But Core Inflation Remains Elevated
Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew at a continuously compounding annual rate of 4.9 percent from December 2021 to December 2022, down for the third consecutive month. Year-on-year inflation was a whopping 6.1 percent from September 2021…