Under the Hood, However, the Data Looks More Encouraging
"Service Prices Growth" is significantly affected by Transporation services such as airlines, Uber, subways and busses that are heavily affected by oil and fuel prices, though many people habitually equate services with labor costs. https://www.cato.org/blog/measurement-problems-service-prices-core-ppi-cpi-2
Hi Joey, thanks for that great article as usual. I just have a question regarding the following sentence: "Since tightening monetary policy primarily constrains inflation by slowing the pace of service price growth". Do you have any studies evidence for that?