This Is What Inflation Would Look Like Without Used Cars and Trucks

Inflation continues to dominate the conversation after last week’s red-hot CPI number. Of course, the question remains: How much of the index-level gains that we saw were one-off price increases related to the economic reopening, as opposed to broader, problematic pricing pressures enveloping the economy?

My colleague Matt Boesler made this chart, which shows core inflation vs. core inflation excluding used cars and trucks.