The latest inflation numbers are in line with expectations, dropping to 6% year-over-year, with “supercore” inflation increasing slightly, according to Labor Bureau data.
Supercore inflation is a new buzzword used by economists to describe the price of services for things like visiting the dentist or getting a haircut, but it excludes housing, food and energy costs. The concept has been a concern for a while: Federal Reserve chair Jerome Powell singled out supercore price growth as the “most important category” for understanding the “future evolution” of inflation in a speech last November.
In February, “supercore” services inflation rose 0.2% for the month and was 4% higher than a year ago.
Source : Inflation Decreases to 6%, but Housing Costs Remain High as the Fed Monitors ‘Supercore’ Inflation