Core inflation
MacroDefinition
Inflation excluding food and energy — the most volatile components. Smooth signal of the underlying price trend. Fed targets Core PCE at 2%.
"Supercore" further excludes shelter (which lags real-time market rents by ~12 months), giving the cleanest read on services inflation. Watched closely 2022-2024.
"Supercore" further excludes shelter (which lags real-time market rents by ~12 months), giving the cleanest read on services inflation. Watched closely 2022-2024.