What Deflation? CPI Readings Well Above 2.00% In US And Germany

On the following chart, the core PCE is the blue line. Note the steepening slope towards mid-year. This is clearly a trend with some momentum which, if it continues, will take this index from slightly above target to substantially above…….A more surprising above-target reading just came from Germany, which didn’t used to have inflation of any kind. But now it does: