Today’s inflation report is a gift, and it arrives just in time for the holidays. But after we’ve unwrapped it, ogled its components and dispensed a few “oohs” and “aahs,” it’ll be time to ask: Is it a gift that keeps on giving?
There’s reason to think that the gift may in fact be around a while, as suggested by reading today’s update on November’s consumer prices, which were unchanged last month. Ditto for core inflation, which excludes food and energy. In fact, one could say with more than a little pleasure that a whole lot of ‘nuttin was going on with inflation last month.