On the inflation front, it´s back to “peace on earth”

After January´s 0.3% month-on-month Core CPI “inflation shock”, the highest in 12 years, OMG, in February, however, “angels’ didn´t fear to tread”. The charts for Core CPI inflation in the past twelve months and the previous twelve months show all the excitement was misplaced, with inflation for the past 12 months even more subdued than before. Nevertheless, many instead of analyzing inflation, do “price analysis” (by product category/subcategory and even individual items). When you get to the second paragraph you´ve already forgotten what was said in the first. When some price falls, it´s usually “transitory” (or one-off). When there´s a…

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