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The Economy

Inflation Predictions: Forecasters’ Calls vs. the Data

Every call on this we have on file from a named forecaster, set on the government’s own figures. We make no forecast of our own; each call is graded on the first figure reported for its period.

CPI inflation3.7%September
Core CPI inflation2.6%September
Core PCE inflation3.1%September
Calls on file3From 2 forecasters · none graded yet

The calls, on the figures

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CPICore CPIA numbered call, keyed to the list belowStill to come

CPI from the Bureau of Labor Statistics; PCE from the Bureau of Economic Analysis. 12-month changes, as currently published. Calls are graded on the first figure reported, which can differ from a later revision.

Calls on file

Soonest due first
1

David Payne · Kiplinger: Investing · Nov 9

Core CPI inflation at 2.7% for December 2026

“while core CPI, which excludes volatile food and energy prices, will be at 2.7%”

Read the original ↗

Due by about Jan 20, 2027
2

David Payne · Kiplinger: Investing · Nov 9

CPI inflation at 4.0% for December 2026

“believes the annual CPI rate will end the year at 4%”

Read the original ↗

Due by about Jan 20, 2027
3

Joseph Brusuelas · RSM Real Economy · Nov 10

CPI inflation higher than on the day of the call, a year later (period assumed)

“Stubborn and sticky inflation is a problem that is likely to grow in the coming months despite the recent decline in oil and gasoline costs.”

Read the original ↗

Due by about Dec 20, 2027

How these calls are graded

A call with a number is scored on how far the first reported figure lands from it. A call that names only a direction is right or wrong against the figure on the day it was made. A call with no date is given twelve months and marked “period assumed”.

The full method

MissedTakes reconciles interpretations of published predictions against publicly-available actuals. Nothing on this site is intended as investment, financial, or tax advice and no past performance should be interpreted as an indicator of future performance. Each figure is the result of analyzing output from the agencies named with grades, and grades are corrected to the best of our ability when figures are changed. Grades evaluate predictions, not the people who made them. How we grade