A Different Kind of Prime Rate (or, Getting to the Meat of the Issue)

"I take a vitamin every day. It's called steak." – Robert Duvall

Chart of the Day Good morning! Like many on Wall Street, we typically follow the "core" versions of inflation metrics (CPI, PPI, PCE) – metrics that strip out the more volatile food and energy components. However, the average American household measures inflation not by looking at macroeconomic data releases, but by monitoring their weekly grocery bills (and gas-pump charges). Thus, grocery prices affect consumer...

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