View, or perhaps hope, that the US economy is either at or near peak inflation

 Owners' Equivalent Rent

The CPI rent index will likely keep moving higher as the year goes on. There's still an element of catch-up in the CPI data just given the way the index is constructed. The debate among inflation forecasters is whether it finishes this year closer to say 6% YoY or 7%-7.5%.

You can't say that you "understand the hardship" that inflation is causing and then tell people that if you strip out food and energy, inflation's coming down.

Joe Weisenthal Bloomberg 25 maj 2022

https://www.bloomberg.com/news/articles/2022-05-25/q-a-omair-sharif-on-why-inflation-may-still-not-have-peaked


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