High Inflation May Be Broadening, St. Louis Fed Economist Says

This year’s surge in inflation seems to be broader than the picture presented by concentrating on a few outliers with big gains, such as used cars, a St. Louis Federal Reserve Bank economist found.

“When looking at the overall price change over the period, the role of outliers is greatly diminished, revealing that higher inflation is perhaps a broader phenomenon,” Fernando Martin, an economist at the Federal Reserve Bank of St. Louis, wrote in a recent blog.