The stickiest part of the inflation story is still sticky: Chart of the Week

April's Consumer Price Index report indicated that while overall inflation isn't escalating, the services sector, particularly housing, remains stubbornly high. Core services inflation, including housing and medical care, rose by 3.15% over the past year. Despite this, there's an expectation that services inflation will moderate as economic activity slows, with shelter costs predicted to decrease later in the year.