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The Base Effect of the CPI Number Falling
The year-over-year CPI number is down and it continues to fall. But if we look over three and six month periods, the inflation number is actually up. So when you look at that, is that telling us that there's just a base effect at play with that headline number? And we should maybe be paying more attention to an accelerating inflation in the shorter term? Or is that just kind of a whole bunch of noise and that headline number is the only thing to focus on?