Why US inflation numbers need to start falling soon ...Middle East

Here is a great chart today from Jim Bianco who illustrates what will happen to year-over-year core PCE if it runs at 0.33% m/m, which is the two-year average.It also highlights that a series of lower numbers will roll off, particularly in June, July and August.The good news is that today's PCE core number was +0.261%, which is already putting downward pressure on this projection.It also shouldn't be too big of a surprise that inflation will be high with 0.33% monthly inflation. That's a pace that would imply 4% annual inflation.Digging through the details of today's inflation report, much of it is focused in health care. Could those be one-off increases? Or will they be persistent as they w

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