Source: Federal Reserve Bank of Philadelphia, Survey of Professional Forecasters; University of Michigan Surveys of Consumers; Federal Reserve Board staff calculations. Source: Federal Reserve Board staff calculations. Figure 5.
Durable Goods Inflation Has Run Far below That of Services for 25 Years before the Pandemic 8  Monthly  12-month percent change  8  6  6  Services  4  4  2  2  0  0  -2  -2 Durables -4  -4  -6  -6  1996  2001  2006  2011  2016  2021  Note: The data are price deflators for personal consumption expenditures and extend through June 2021.