"Disinflation" has been popping up in analyst notes all over the place:

Bank of America are on board:

  • The August CPI, PPI & retail sales data leave our core views unchanged. Disinflation is on track and the consumer is resilient.
  • The Fed's message ... is likely to be balanced. The dots for 2024 and beyond should show slower cuts and a higher r*.

BoA do have 2 concerns though:

  • the recent UAW strike which has shut down auto production
  • chances of a government shutdown on October 1 are rising
US Treasury Secretary Yellen

Dis inflation, dat inflation.