Albert Edwards quoted in MarketWatch article

Edwards comments on the market-based PCE price index as a deflation indicator—the only index that is based solely on actual prices paid in the market:

The market-based PCE, observes Albert Edwards, chief global strategist at SG Securities, "excludes prices which the statisticians have to invent!"
Edwards, in a new research note, points out that this purely fact-based inflation indicator is undershooting the better known ones, such as the regular PCE and the CPI. And, he adds, it is undershooting by more and more.

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