this post was submitted on 16 Jan 2024
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It's almost entirely driven by the services sector, in particular rent. Goods prices had been deflationary for the better part of the fall, but near the end of the year their prices flattened.
The Red Sea issues haven't really started hitting prices yet, but I think they will start hitting goods and energy pricesin the coming months. I personally think we could likely see inflation starting to increase again unless service inflation comes in