29:I[46696,["/_next/static/chunks/a945bbd300834012.js","/_next/static/chunks/4060b63f78e0382c.js","/_next/static/chunks/65c5d5dcc87c22c9.js","/_next/static/chunks/15a1b1fbd3cf7d4a.js","/_next/static/chunks/653d605fffff2e75.js","/_next/static/chunks/fa59d51a8b0726c5.js","/_next/static/chunks/a33d1a413064ef53.js","/_next/static/chunks/381ae72bfa6637bb.js","/_next/static/chunks/022589ef34b8ee03.js","/_next/static/chunks/efa6f06dc5162244.js"],"Toaster"] 2a:I[22016,["/_next/static/chunks/a945bbd300834012.js","/_next/static/chunks/4060b63f78e0382c.js","/_next/static/chunks/65c5d5dcc87c22c9.js","/_next/static/chunks/15a1b1fbd3cf7d4a.js","/_next/static/chunks/653d605fffff2e75.js","/_next/static/chunks/fa59d51a8b0726c5.js","/_next/static/chunks/a33d1a413064ef53.js","/_next/static/chunks/381ae72bfa6637bb.js","/_next/static/chunks/022589ef34b8ee03.js","/_next/static/chunks/efa6f06dc5162244.js"],""] 2b:I[5500,["/_next/static/chunks/a945bbd300834012.js","/_next/static/chunks/4060b63f78e0382c.js","/_next/static/chunks/65c5d5dcc87c22c9.js","/_next/static/chunks/15a1b1fbd3cf7d4a.js","/_next/static/chunks/653d605fffff2e75.js","/_next/static/chunks/fa59d51a8b0726c5.js","/_next/static/chunks/a33d1a413064ef53.js","/_next/static/chunks/381ae72bfa6637bb.js","/_next/static/chunks/022589ef34b8ee03.js","/_next/static/chunks/efa6f06dc5162244.js"],"Image"] 2c:I[58016,["/_next/static/chunks/a945bbd300834012.js","/_next/static/chunks/4060b63f78e0382c.js","/_next/static/chunks/65c5d5dcc87c22c9.js","/_next/static/chunks/15a1b1fbd3cf7d4a.js","/_next/static/chunks/653d605fffff2e75.js","/_next/static/chunks/fa59d51a8b0726c5.js","/_next/static/chunks/a33d1a413064ef53.js","/_next/static/chunks/381ae72bfa6637bb.js","/_next/static/chunks/022589ef34b8ee03.js","/_next/static/chunks/efa6f06dc5162244.js"],"ProcessEpisodeButton"] 2d:T496,

For the first time in a while, core CPI exceeded expectations. For the first time in a while, core services and core goods both accelerated on a year-over-year basis. But what is not at all new is that median inflation is settling in the high-3% range, roughly 3.65% y/y with today's report. Get used to it! And get used to the Federal Reserve easing anyway...

NOTES

Blog for this month’s CPI: “Inflation Guy’s CPI Summary (July 2025)” (https://inflationguy.blog/2025/08/12/inflation-guys-cpi-summary-july-2025/ )

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Ep. 148: This Month's CPI - Get Used to High 3s

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