This and most discussions about inflation lack an actual definition of the term. This leads to heated discussions that sometimes talk past each other. I suspec

This and most discussions about inflation lack an actual definition of the term. This leads to heated discussions that sometimes talk past each other. I suspect what the article is talking about is Core Personal Consumption Expenditures: > The Labor Department’s latest report on core consumer prices showed the index down for a third consecutive month in June for the first time since 1957. The core personal consumption expenditures price index, the Fed’s preferred inflation gauge, increase 0.9% on a year-over-year basis in June, the smallest advance since December 2010. BEA reports that the index is up 1.4% YOY in August, which follows 1.1% in July and 0.9% in June: https://www.bea.gov/data/personal-consumption-expenditures-price-index https://www.bea.gov/data/personal-consumption-expenditures-p... The use of the word "unlocking" suggests a benefit to surging headline inflation, which is very strange because inflation by itself implies nothing about what the economy itself is doing. I suspect all the talk from central banks is just jawboning. It wants to raise the specter of a big bond market decline to get certain kinds of investors out of treasuries and into risk-on assets. Recent history has shown that doing that is highly stimulative.