Paul KrugmanOne thing I've been noticing in my correspondence is how many people think inflation is still running wild; the big deceleration in the 2nd half of 2022 hasn't broken through to public consciousness 1/
Several reasons for this. Too many media reports focus on yoy inflation, so miss the big turn. Traditional core inflation still reflecting rent increases from a year ago. And asymmetric reporting: breathless coverage of rising inflation, disinflation not so much 2/
But anyway, the truth is striking. Here's 3-month "supercore" excluding food energy shelter and used cars: 3/
Matthew Cassinelli@pkrugman Removing “food” from your analysis might be the reason people don’t care about this