These excluded components can vary from month to month, 10  One example of the countercyclical behaviour in auto prices began with their fall in 2007 when the US–Canada exchange rate reached near parity, which set off a surge in cross-border shopping.
Boissay, F., F. De Fiore, and E. Kharroubi (2022), Hard or soft landing?, BIS (Bank of International Settlement) Bulletin No 59. 6. Samuelson, P. J., The Fed (Federal Reserve System)’s inflation machine: What would Volcker do?, The Washington Times, 19 October 2021.