Inflation-All About That Base

February 15, 2017 BY Chun Wang
PDF Download: PDF icon Feb2017_F.pdf

CPI numbers were strong and better than expected. A big part of the recent upturn in inflation has to do with the much lower base from a year ago. We are seeing upside inflation surprises on a global basis but wage inflation is still disappointing. We are encouraged by the general uptrend in inflation data but we think the real test comes after the positive base effect subsides.

 

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