UBS On-Air: Paul Donovan Daily Audio 'Slowly waving farewell to inflation?'

US consumer price inflation requires economists to become second-hand car dealers by proxy—the volatility of used car prices explains a lot of inflation uncertainty. Developed economies have experienced three inflation waves: transitory durable goods price inflation has been deflation since December 2022; energy prices are less disinflationary, but crude prices have moved more than consumer prices; profit-led inflation is under pressure as consumers rebel, but some sectors may still expand margin.