Data
Most of the Personal Consumption Expenditures (PCE) inflation gauges are sourced from Consumer Price Index (CPI) data, but Producer Price Index (PPI) input data is of increasing relevance, import price index (IPI) data can prove occasionally relevant. There are also some high-leverage components that only come out on the days
After taking into account data revisions and the Q3 GDP release, productivity growth is running stronger in the post-pandemic period, at about a 2% annualized pace. This stands in contrast to the sluggish ~1.4% pace observed in the pre-pandemic period. We've been productivity optimists for some time
