Is US inflation about to turn a sharp corner

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Is US inflation about to turn a sharp corner? The Billion Prices Project, which scrapes the Internet daily to capture changing prices online and has often foreshadowed subsequent changes in official price indexes, shows a sharp turn upward in measures of inflation, albeit from a low starting point. The official measures of inflation from the Labor Department and Commerce Department are only available through January, with no turn evident in that data. But the Billion Prices Project measure (now produced as the State Street PriceStats inflation index) has turned upward sharply in recent weeks. If the turn holds, then inflation could be firming faster than economists realize. Full WSJ article: (VIEW LINK)


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