Question on 'Stickiness' of Inflation Post-CPI
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Been trying to get a handle on what really constitutes 'sticky' inflation after seeing the latest CPI print. I get that core CPI is stripping out the volatile stuff, and services inflation is a big component of the current narrative for the Fed. But what exactly are we looking for in the data to say something is truly embedded versus just a slower-moving part of the economy? Is it purely about the sequential month-over-month figures, or are there specific sectors within services, for example, that are more indicative of this 'stickiness' than others? Trying to reconcile the various takes.