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Deflation (That’s Correct) in the Cyclically-Adjusted CPI
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Deflation (That’s Correct) in the Cyclically-Adjusted CPI

Cyclical components of the CPI are already deflating

David Rosenberg's avatar
David Rosenberg
May 16, 2024
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Early Morning with Dave
Early Morning with Dave
Deflation (That’s Correct) in the Cyclically-Adjusted CPI
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Highlights

• Cyclical components of the CPI are already deflating

• Rally in equities has far outpaced the earnings trend

• Jobless claims data to give more color on labor markets

• Rising delinquencies point to financially distressed households

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