The war against inflation is a long way away from being won - Euro-Area Core Inflation Quickened..

'So-called core inflation rose 0.2% in June and was tracking at a 4.8% annual rate, much higher than the Fed would like.

..

Inflation has inflicted much pain

Fed officials have pledged not to be complacent about inflation, repeatedly expressing concern over the impact on lower-income families and workers.

..

“The reality is that current inflation rates still hold a negative impact on consumers,” he added. “So, even though we are on the right trajectory, we still have a long way to go.” '

- The war against inflation is a long way away from being won, July 17, 2023


'Core consumer prices, stripping out volatile elements like food and energy, rose 5.5% from a year earlier, Eurostat said Wednesday. That compares with a preliminary estimate of 5.4% and a reading of 5.3% in May.

- Euro-Area Core Inflation Quickened More Than Thought in June, July 19, 2023


'"Geographic inequality has widened over the past four decades... Strikingly, geographic income inequality continued to climb in recent years even though many measures of overall income and wage inequality have narrowed somewhat..."'

- Source, June 28, 2023



Context

'Once again, the Federal Reserve has underestimated inflation..' (Summers) - '..we risk inflation getting entrenched.' (IMF)

[Thomas Hoenig] has a Dire Warning About Where We’re Headed - '..Household Expense Data .. for 80 Years'

BlackRock's CEO expects more rate hikes as inflation persists, May 31, 2023


(Global Stagflation) - '..the Federal Reserve "must unwind" its extraordinary funding facility .. encourages future irresponsible behavior..'