So now, the Fed's focusing on an even narrower set of prices which further strips away the housing component from the inflation rate.
So, what exactly is this supercore inflation Powell's talking of? And is it all it's cracked up to be?In the context of the US today, supercore inflation mostly reflects the prices of services, such as those provided by lawyers, plumbers, gardeners, and hairdressers that remain stubbornly high.
"These 'stickier' prices are typically more stable than energy and housing costs, and can better indicate the direction of prices in the US economy," Leonard Eng, a senior manager at TD Ameritrade Singapore's trade desk, explained to Insider.
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