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YoY Measures of Inflation: Services, Goods and Shelter
Here are a few measures of inflation: The first graph is the one Fed Chair Powell had mentioned when services less rent of shelter was up around 8% year-over-year. This declined, but is still elevated, and is now up 3.9% YoY. Click on graph for larger image. This graph shows the YoY price change for Services and Services less rent of shelter through December 2024.Services were up 4.2% YoY as of January 2025, down from 4.4% YoY in December. Services less rent of shelter was up 3.9% YoY in January, down from 4.0% YoY in DecemberThe second graph shows that goods prices started to increase year-over-year (YoY) in 2020 and accelerated in 2021 due to both strong demand and supply chain disruptions. Durables were at -1.2% YoY as of January 2025, up from -1.9% YoY in December. Commodities less food and energy commodities were at -0.1% YoY in January, up from -0.7% YoY in December.Here is a graph of the year-over-year change in shelter from the CPI report (through January) and housing from the PCE report (through December) Shelter was up 4.4% year-over-year in January, down from 4.6% in December. Housing (PCE) was up 4.7% YoY in December, down from 4.8% in November.This is still catching up with private new lease data.Core CPI ex-shelter was up 2.4% YoY in January.
Here are a few measures of inflation:
The first graph is the one Fed Chair Powell had mentioned when services less rent of shelter was up around 8% year-over-year. This declined, but is still elevated, and is now up 3.9% YoY.
Click on graph for larger image.
This graph shows the YoY price change for Services and Services less rent of shelter through December 2024.
The second graph shows that goods prices started to increase year-over-year (YoY) in 2020 and accelerated in 2021 due to both strong demand and supply chain disruptions.
Here is a graph of the year-over-year change in shelter from the CPI report (through January) and housing from the PCE report (through December)
Shelter was up 4.4% year-over-year in January, down from 4.6% in December. Housing (PCE) was up 4.7% YoY in December, down from 4.8% in November.
Core CPI ex-shelter was up 2.4% YoY in January.
The first graph is the one Fed Chair Powell had mentioned when services less rent of shelter was up around 8% year-over-year. This declined, but is still elevated, and is now up 3.9% YoY.
Click on graph for larger image.This graph shows the YoY price change for Services and Services less rent of shelter through December 2024.
Services were up 4.2% YoY as of January 2025, down from 4.4% YoY in December.
Services less rent of shelter was up 3.9% YoY in January, down from 4.0% YoY in December
Services less rent of shelter was up 3.9% YoY in January, down from 4.0% YoY in December
The second graph shows that goods prices started to increase year-over-year (YoY) in 2020 and accelerated in 2021 due to both strong demand and supply chain disruptions.Durables were at -1.2% YoY as of January 2025, up from -1.9% YoY in December.
Commodities less food and energy commodities were at -0.1% YoY in January, up from -0.7% YoY in December.
Commodities less food and energy commodities were at -0.1% YoY in January, up from -0.7% YoY in December.
Here is a graph of the year-over-year change in shelter from the CPI report (through January) and housing from the PCE report (through December)Shelter was up 4.4% year-over-year in January, down from 4.6% in December. Housing (PCE) was up 4.7% YoY in December, down from 4.8% in November.
This is still catching up with private new lease data.
Core CPI ex-shelter was up 2.4% YoY in January.
