When people started talking about the last mile, they were talking about inflation stalling out above 3%.

The last mile goal posts have moved down a little bit to the 2.5% to 3% zone.

Short-term #inflation dynamics show a little pressure but 6-mo inflation indicate its mostly bumpiness

✅Headline CPI
📊12-mo: 2.6% (+0.2pt)
📊6-mo: 1.4% (-0.2pt)
📊3-mo: 2.5% (+0.4pt)

✅Core CPI:
📊12-mo: 3.3% (flat)
📊6-mo: 2.6% (flat)
📊3-mo: 3.6% (+0.5pt)