1.0Liberty Street Economicshttps://libertystreeteconomics.newyorkfed.orgAnna Sniderhttps://libertystreeteconomics.newyorkfed.org/author/anna-sniderny-frb-org/MCT Update: Inflation Persistence Continued to Decline in March - Liberty Street Economicsrich600338<blockquote class="wp-embedded-content" data-secret="eXYLUAbvY7"><a href="https://libertystreeteconomics.newyorkfed.org/2023/05/mct-update-inflation-persistence-continued-to-decline-in-march/">MCT Update: Inflation Persistence Continued to Decline in March</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://libertystreeteconomics.newyorkfed.org/2023/05/mct-update-inflation-persistence-continued-to-decline-in-march/embed/#?secret=eXYLUAbvY7" width="600" height="338" title="“MCT Update: Inflation Persistence Continued to Decline in March” — Liberty Street Economics" data-secret="eXYLUAbvY7" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script>
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https://libertystreeteconomics.newyorkfed.org/wp-content/uploads/sites/2/2023/05/LSE_2023_MCT-update_may_almuzara_460.jpg920576This post presents an updated estimate of inflation persistence, following the release of personal consumption expenditure (PCE) price data for March 2023. The estimates are obtained by the Multivariate Core Trend (MCT) model, which was introduced last year. The MCT continued to decline in March from the prior month.