Price Pressures

The CPI rose 0.9% M-o-M in June, 0.5% in July and just 0.3% in August. Similar Y-o-Y numbers show inflation declining from 4.5% in June to 4.2% in July and 4% in August, a nice decline! But, trimmed measures of inflation, which lop off items that increase the most and least to help reveal how widespread price pressures are, show inflation rising, suggesting price pressure is spreading. I’m somewhat concerned.