Inflation Tracker
NAA Inflation Tracker: December 2023
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CPI, Latest Release, November 2023
November CPI came in largely as anticipated, increasing 0.1% from last month on a seasonally adjusted basis and up 3.1% year-over-year. The deceleration was once again driven by energy prices, down 5.4%. Core CPI stalled at 4.0%, still well above the…
NAA Inflation Tracker: November 2023
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CPI, Latest Release, October 2023
October CPI inflation figures came in slightly below expectations, remaining flat from last month, and increasing 3.2% year-over-year, seasonally adjusted. Price stability was led by declines in energy prices, including a 5.0% drop in gasoline. Core…
NAA Inflation Tracker: October 2023
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CPI, Latest Release, September 2023
The September inflation release came in slightly higher than expected, rising 3.7% year-over-year and 0.4% over the month, seasonally adjusted. Shelter costs were responsible for more than half the increase. Gas prices were also a major contributor,…
NAA Inflation Tracker: September 2023
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CPI, Latest Release, August 2023
The August inflation release contained more positives than negatives and largely came in at expectations. The headline number increased, as anticipated, for the second month in a row due to a rise in gas prices, responsible for more than half of the…
NAA Inflation Tracker: August 2023
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CPI, Latest Release, July 2023
Despite a year-over-year increase in the headline number, inflation came in below expectations once again, up 3.3% seasonally adjusted. Core CPI, arguably more important given its persistence, continued to move in the right direction, down to 4.7%, the lowest…
NAA Inflation Tracker: July 2023
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CPI, Latest Release, June 2023
Inflation came in below expectations, with the headline number, 3.1%, at its lowest level since March 2021. Core CPI, which by its nature is stickier, dipped below 5% year-over-year for the first time since October 2021 and experienced its lowest monthly…
NAA Inflation Tracker: June 2023
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CPI, Latest Release, May 2023
Both headline and core CPI met analysts’ expectations, with the headline number up 4.1% year-over-year on a seasonally adjusted basis, its lowest level in more than two years. Core CPI remained much higher than the Fed would like at 5.3% but is still…
NAA Inflation Tracker: May 2023
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CPI, Latest Release, April 2023
Inflation rose 5.0% year-over-year on a seasonally adjusted basis, in line with concession expectations and matching last month’s rate. Core CPI (excluding food and energy) has settled in the 5.5%-5.6% range for four months. Monthly trends don’t reveal…
NAA Inflation Tracker: April 2023
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CPI, Latest Release, March 2023
Inflation surprised on the upside, accelerating at rates below the consensus forecast. On a monthly basis, headline CPI rose just 0.1%, and increased 5.0% annually, the slowest pace since May 2021. Prices excluding food and energy remained stubbornly…
NAA Inflation Tracker: March 2023
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CPI, Latest Release, February 2023
There were no surprises in this month’s CPI release as all measures of inflation came in largely as expected. The headline rate was up 6.0% year-over-year, seasonally adjusted, while the core rate (excluding food and energy) increased 5.5%. The…