From the ‘FRED’ research at St. Louis Federal Reserve Bank, conveying research from the Atlanta Fed:
Sticky price CPI (slow-to-change consumer prices) rose 5.0% on an annualized basis in March, following a 4.0% increase in February
Down from its peak, sure, but rising from its lows.
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The Sticky Price Consumer Price Index (CPI) is calculated from a subset of goods and services included in the CPI that change price relatively infrequently. Because these goods and services change price relatively infrequently, they are thought to incorporate expectations about future inflation to a greater degree than prices that change on a more frequent basis. One possible explanation for sticky prices could be the costs firms incur when changing price.