February 24, 2024
Core inflation is what matters


Core inflation is what central bankers look at. For, given that they’re not idiots, they know that food and fuel can bounce around wildly in price.

Overall, this is the trend in inflation (there isn’t a CPI chart, this CPIH one will do):

Inflation is falling.

It will continue to fall, overall.

When energy prices fall in April, that will become very apparent.

  Or as ONS actually said:

Core CPIH (excluding energy, food, alcohol and tobacco) rose by 5.2% in the 12 months to December 2023, the same rate as in November

Core inflation is high and isn’t falling….

Remember, this man teaches at a British university.

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