TIP - Prominent Economist Paul Krugman Says 'Inflation Beaten' Underlines This As Reason For Sticky Pricing Pressure | Benzinga
Paul Krugman, an authority in economics and Noble Prize winner, commented on Friday’s inflation data that showed a further easing in pricing pressure, prompting an increase in the odds of rate cuts.
Inflation War Won? “Inflation looks beaten,” said Krugman in a post on X, formerly Twitter. The Bureau of Economic Analysis’ personal income and spending report released on Friday showed that the annual rate of the personal consumption expenditure index (PCEI) came in 2.6%, marking the lowest level since March 2021. The metric is considered the Fed’s favorite inflation gauge.
Sharing a chart of the annual rates of PCEI and the core PCEI, Krugman said, “The blip a few months ago looks like start-of-year price resets, and what's left is lagged housing costs.”
In other news, inflation looks beaten. The blip a few months ago looks like start-of-year price resets, and what's ...