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Update on my outlook for inflation

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I have been hopeful for disinflation toward 2% since the summer of 2022. Harmonized CPI inflation is 2.4% and core inflation ex-shelter is 2.1%. But we still need a softer economy - real disposable personal income, employment trends, real policy growth, economic surprises, and consumer expectations suggest that could be happening.

Ned Davis Research | NDR Hotline | Insights | 3X Weekly

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