2 percent?

 





The core consumer price index, which excludes often-volatile food and energy costs, increased 0.3% from December. 
Compared with January of last year, the measure rose 2.5%.

Twelve-month core CPI reading dips to 2.5% from 2.6%.

Bloomberg February 13, 2026 
 

Ökningstakten är fortsatt klart över målet men sannolikheten för räntesänkningar ökar något. 
Räntorna sjönk, börserna steg och dollarn tappade.
Viktor Munkhammar DI 13 februari 2026, 15:41



Faster productivity growth allows households to save less because they anticipate higher future income, while prompting businesses to invest more because expected returns rise. 

Both of these boost demand and push up real interest rates.

What we do have today is extraordinarily high expectations of productivity growth, already reflected in equity prices and business investment, boosting demand well ahead of any realised supply gains.

Moreover, inflation is currently running close to 3 per cent and has been above target for more than five years. 
Jason Furman professor at Harvard University and a former chair of the White House Council of Economic Advisers 
Financial Times February 12, 2026 



The Federal Reserve’s policymakers ought to ask why, with inflation stuck at 3%, investors have so confidently priced in at least two further interest-rate cuts.
Core PCE inflation (the central bank’s preferred measure) fell to 3.1% at the end of 2023. Two years later, it’s still roughly 3%.


Policymakers could leave their 2% target in place formally, but be all right with never quite getting there. And then some years down the line, they could adopt a higher target.




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