Chart of the Week09 Feb 2024
US inflation gets relatively easy

US inflation is now rising much less than its trading partners.

For the first time since the Fed began tightening, the price of a basket of identically matched consumer goods in the US relative to its major trading partners is back below the prevailing level seen five-years ago.

In aggregate, at least, this suggests the level of the US dollar is no longer so troubling. In real-terms it is rapidly heading back to its 5-year average.

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