Allianz Chief Economic Adviser El-Erian believes core inflation ‘is still going up’


Ahead of the release of the latest consumer price index reading this week, Allianz Chief Economic Adviser Mohamed El-Erian told CBS’ “Face The Nation” Sunday that he predicts headline inflation “will probably come down to about 8%,” but that core inflation “is still going up.”

Core inflation is what measures the drivers of inflation and how broad they are, so El-Erian said an increase in core inflation means “we still have an inflation issue.”

Even if core inflation is still on the rise, however, El-Erian said it will eventually come down.

“The question is, does it come down with a slowdown in the economy or a major recession?” he said on “Face the Nation.”

The oil producer group OPEC+ 


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