Here a few measures of inflation:
The first graph is the one Fed Chair Powell has been mentioning.
This graph shows the YoY price change for Services and Services less rent of shelter through February 2023.
Services less rent of shelter was up 6.9% YoY in February, down from 7.2% YoY in January.
Commodities less food and energy commodities were up 1.0% YoY in February, down from 1.3% YoY in January.
Shelter was up 8.1% year-over-year in February, up from 7.9% in January. Housing (PCE) was up 8.0% YoY in January.
The BLS noted this morning: “The index for shelter was the largest contributor to the monthly all items increase, accounting for over 70 percent of the increase [in CPI]”.