Nah, it's been teeter tottering around 6% for the last 12 months. Maybe it'll continue to trend down, but we could've said that in April based on the same belief, and we would've been wrong. Disregarding the last year, we haven't seen our current level of inflation for forty years. We are by no means out of the woods yet.
The balance sheet is trending down, but we're only where we were a year ago, so still up ~5 trillion from pre-covid levels.
But if you look at the past 3 months, it's sub-3.0% annualized. Overall CPI-U was 0.4%, 0.4%, and 0.1% for the past three months, with some sectors seeing price declines.
The balance sheet is trending down, but we're only where we were a year ago, so still up ~5 trillion from pre-covid levels.