Price growth with food and energy removed. Those two move with weather and war, so economists take them out to see the underlying trend.
核心通胀
| Move变动 | Where it appeared出现位置 | What it means这句话在说什么 |
|---|---|---|
| — | The tenth of a point that moved the whole curve 核心通胀 · 第 1 张术语卡 | Core rose 0.3 per cent in October, the third month in a row, while the headline was 0.4. 为什么央行盯核心：食品和能源的价格由供给冲击决定，货币政策管不了油田，也管不了降雨。但核心也有盲点——住房在核心里的权重很高（美国约四成），房价一涨，核心就下不来，而加息对房价的传导要一年以上。所以核心是「趋势指标」，不是「生活成本指标」；老百姓感受到的是整体，央行盯的是核心，这两者常常吵架。 |
| 2.6% | The bond market raised rates for the Fed 核心通胀 · 第 4 张术语卡 | Core CPI at 2.6%, up 0.3 points in a month, is the strongest single argument for hiking. 「核心」不是「不重要」，而是「更能预测下一步」。9 月整体 CPI 3.7% 里，能源贡献了大头（与中东冲突下的油价有关）；核心 2.6% 反而更能说明通胀是否已经扩散到租金、机票、电脑这些内生的价格里。看核心通胀的方向（涨还是在跌）比看它的绝对值更有用。 |
“Core rose 0.3 per cent in October, the third month in a row, while the headline was 0.4.”
“Core CPI at 2.6%, up 0.3 points in a month, is the strongest single argument for hiking.”