St Louis Fed researchers deconstruct US inflation
Slower growth in energy, healthcare and housing prices contributed to lower inflation in recent expansion, researchers find
Recent low US inflation is largely due to slower price increases in services and non-durable goods compared with before the 2008 financial crisis, a research essay published by the St Louis Fed finds.
YiLi Chien and Julie Bennet deconstruct inflation during this economic expansion (2009–19) and compare it to that of the previous expansion (2002–07). They use data from the Bureau of Economic Analysis.
The authors find that overall, inflation is roughly one percentage point lower during this
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