UBS On-Air: Paul Donovan Daily Audio 'Inflation in the real world'

The Truth About Inflation is a complex subject, worthy of a book. The challenge for economists with today’s US consumer price data is stripping away the fiction to get at the reality. The largest part of the consumer price index is owners’ equivalent rent, which rose 6.3% in December. It is a price no one pays, and it means middle-income homeowners have a lower cost of living increase and thus more spending power.