The next time Federal Reserve Chair Janet Yellen grabs dinner at her favorite eatery, she might want to take a longer look at the cost of her entrée. When they do increase, the move has to count, and it's a sign restaurant owners see inflation bubbling, according to Michael Bryan, a senior economist at the Federal Reserve Bank of Atlanta. The "sticky" consumer-price index, which only includes items with slowly changing costs such as food consumed away from home and car repairs, is one of the alternative measures that policy makers monitor. Other calculations by the Cleveland and Dallas Fed banks also strip out more volatile components, aiming to quiet the "noise" Yellen has suggested can affect broader measures, including the central bank's favorite.
via Business News http://ift.tt/1mUaNUw
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