Image Source: A comparison between CPI, chained CPI, PCE price index, and HICP deflation:Figure 1: Average hourly earnings, CPI deflated (blue), chained CPI deflated (green), PCE price index – market based deflated (tan), and HICP deflated (red), all in 2019$. Chained CPI, HICP deflated by author using X-13. Source: BLS, BEA, European Commission.Estimated real median income through October, from .I discuss consumption and the consumption outlook in light of income and inflation trends .More By This Author:Three Measures Of Output The Ruble Under Pressure Six Measures Of Core Instantaneous Inflation
Average Wages (Still) Rising Faster Than Inflation
