Fed officials have focused attention on inflation in services that exclude housing, given the potential for it to be stickier (and because housing inflation is set to slow)
January core PCE services inflation ex-housing:
3-month annualized rate: 5.2%
12-month change: 4.5% pic.twitter.com/pKNsYQTLJy— Nick Timiraos (@NickTimiraos) February 24, 2023