The nub of the inflation problem is now service sector prices (US)
CONTRIBUTION TO US CPI INFLATION
0 1 2 3 4 5 6 7 8 9
0 1 2 3 4 5 6 7 8 9
SERVICES GOODS
HEADLINE CPI
-3 -2 -1
-3 -2 -1
00 02 04 06 08 10 12 14 16 18 20 22 24
1
Sources: BLS, NBER
19
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