re: CPI increase came in at 4.2% vs expected 3.6%.

quote:

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We knew the Y/Y would be high due to base effects, and I think everyone here knows my longer term deflationary outlook, but the M/M prints, particularly for Core, are pretty hot.

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Yeah I’m not trying to downplay anything. The whole transitory excuse makes sense to me, but I suppose we won’t know for sure until the end of the year or so.

Eta- Used car prices were up like 10% month over month. That’s a short term type of move due to supply crunches, for example.