FATT - Inflation More Than Hints 'Transitory'

• According to the BLS and its latest CPI estimates for the month of July 2021, consumer prices are still well higher than they had been during July 2020, but the rate of change seems to have changed (second derivative).
• The latest estimate decelerated, potentially suggesting the arrival of "transitory"; or, more accurately, quite possibly the beginning of its confirmation.
• From supply problems to base effects and mostly Uncle Sam, these aren’t permanent changes to the situation no matter how many times the last of those is called "stimulus."

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