This morning’s ECI and housing price inflation figures confirm what I have suspected and feared. Inflation is not securely trending to target levels. Note that the ECI has accelerated from previous quarterly, semi-annual and annual levels. I suspect it has been understating…

This, from the @FT, is yet another example of company-specific information containing important macro insights, which, in this case, have economic, social, and political implications. The more vulnerable segments of the population... got hit hard by the unanticipated inflation… pic.twitter.com/uyNuwLDFl2

From the @FT column by @martinwolf_, "What we must still learn about the great #inflation disaster: Past and present policymakers should ask more searching questions about the causes and impact of the price surge." #economy #markets #econtwitter pic.twitter.com/x1cDFX4cab

US & euro area inflation are now similar--despite the fact that the U.S. economy has been growing much more strongly than the euro area. The U.S. was much higher, then it was Europe's turn, now both are down & roughly convergent (euro area a little higher, likely not for long). pic.twitter.com/ikvAZaIOey