Canadian Imperial Bank of Commerce Capital Markets analyst Ali Jaffery has noted that the year-on-year growth rates for overall inflation and core inflation stand at 2.4% and 2.5%, respectively. According to Jin10, these figures align closely with the Federal Reserve's preferred inflation measure, the Personal Consumption Expenditures (PCE) Price Index, which is moving towards policymakers' target of 2%. Historically, the Consumer Price Index (CPI) tends to average about 0.5 percentage points higher than the PCE. Today's data indicates that annual inflation pressures remain moderate, as businesses continue to absorb tariff costs, housing costs decline, and a weak labor market suppresses wage pressures.