Dallas Fed predicts 2022 core inflation above 2%
Economists expect auto and transportation costs to abate, but spike in housing prices
Researchers at the Federal Reserve Bank of Dallas forecast that core personal consumption expenditure (PCE) inflation will be between 2.2% and 3.2% next year. The “baseline scenario” charts a 2.6% core PCE rate.
The US has struggled with sharp inflationary pressures in recent months. Consumer price inflation reached 5.3% in August and 5.4% in September. The Federal Open Market Committee gives more weight to PCE inflation, which has risen somewhat less: it came to 4.3% in August.
Many
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