While the decline in the y/y rate in US CPI since the summer of 2023 has largely informed market participants (alongside some weaker economic data perhaps), the annualized rate of changes in core inflation has actually been trending up.
Read More >>Have Markets Been Fooled By The Base Effect
![](https://wheelerwire.com/wp-content/uploads/2024/02/annualized20vs20yoypnghdeff18d9itokegWubVso.png)