The Core CPI Growth Continues to Fall in the First Half of 2019

Core CPI growth has slowed to about 0.25% over the last three months or so. One of the major things keeping the core CPI high is shelter inflation, which measures the cost of housing. Rents and home prices are declining modestly right now, yet the CPI still shows them going up. To me, this is a strong indication that this core CPI will fall over the course of the next 6 months.