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Core services and housing are about 2.5 points of inflation, Mike Konczal notes

Core services and housing are about 2.5 points of inflation, Mike Konczal notes
PCE inflation driven by core services, housing

Personal Consumption Expenditures (PCE) inflation has risen by a full percentage point over the past 12 months compared to 2024. According to Mike Konczal, core services and housing together account for approximately 2.5 percentage points of inflation, based on different measurement periods.

Konczal assessed the current inflation environment, stating that conditions have worsened compared to previous levels.

Konczal previously highlighted the low percentage of items in the inflation basket registering at least 3% growth in the past year, fueling renewed debate on the breadth of price rises here. He has also argued that the New Keynesian macroeconomic framework was better suited to address inflation shocks seen during 2021 to 2023 than those during the Great Recession here. These earlier assessments offer context for his current views on elevated inflation levels.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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