Plain-English definitions for the vocabulary this site uses: YoY and MoM, NSA vs seasonally adjusted, core vs headline, supercore, the CPI basket and relative-importance weights, owners' equivalent rent, breakevens, the Sahm rule, R/P runway, nowcasts and vintage-true backtests.
Two worth knowing cold: YoY compares today with a year ago (the number newscasts quote), and core strips food and energy not because they don't matter but because their volatility hides the trend. When this site says its backtest is "vintage-true," it means each historical forecast used only data that existed on that date — no hindsight.
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