In addition to CPI, we bound CPI, CPI-wage wages, HICP, PCE nowcast, and May PCE – based on the market. The four June price indices have declined.
Figure 1: Total urban CPI (bold black), CPI-wage and clerical workers (pink), deflated CPI (tan), HICP (green), PCE deflator (red), PCE- market based (blue), all seasonally adjusted, in logs 2021M01=0. Chained CPI, HICP is seasonally adjusted by the author using X-13 (log transformation). Source: BLS, BEA, via FRED, and author’s statistics.
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