Instantaneous Inflation: Headline, Core, Supercore For CPI, PPI, HICP

Menzie Chinn
By Menzie Chinn of Econbrowser.com
Professor of Public Affairs and Economics at the University of Wisconsin •

A breakdown of inflation metrics, including Headline, Core, and Supercore for CPI, PPI, and HICP, analyzing their real-time impact on prices and economic trends.

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Image Source: Pexels

Data available as of today, first for headline:

Figure 1: Instantaneous inflation for CPI (blue), PCE deflator (tan), HICP (green), and PPI (red), per Eeckhout (2023), T=12, a=4.  Source: BLS, BEA via FRED, and author’s calculations. 

And over the same time period, core measures using the same vertical scale:

Figure 2: Instantaneous inflation for core CPI (blue), core PCE deflator (tan), supercore CPI (green), PPI core (red), per Eeckhout (2023), T=12, a=4.  Source: BLS, BEA via FRED, BLS, Cleveland Fed, and author’s calculations. 

Note that these data pertain to pre-tariff prices.

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