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Data: Bureau of Labor Statistics, reproduced from Deutsche Bank; Chart: Axios Visuals

For the past 25 years, the U.S. has seen zero inflation in goods and 3% to 4% inflation in services.

Details: Goods are things you buy in stores and services are housing, health care and education, Deutsche Bank Securities chief economist Torsten Slok notes. The weight to goods in the CPI index is 1/3 and the weight to services is 2/3.

What's happening: Slok said in a recent note to clients...

"[There's] more openness to foreign trade holding down goods inflation, higher productivity growth in manufacturing than in services holding down inflation on goods, and higher growth in demand for services as per capita income rises and the population ages. "Looking ahead, for higher inflation to become a problem, we either need to see goods inflation move higher, for example because of a significant dollar depreciation, or we need to see even higher inflation in the costs of housing, healthcare and education."

Go deeper: The great bond selloff signals concerns about inflation

Go deeper

Updated 44 mins ago - Politics & Policy

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Illustration: Aïda Amer/Axios

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Dion Rabouin, author of Markets
2 hours ago - Economy & Business

CEO confidence skyrockets on expectations of layoffs and wage cuts

U.S. consumers remain uncertain about the economic environment but CEOs are feeling incredibly confident, the latest survey from the Conference Board shows.

Why it matters: Confidence among chief executives jumped 19 points from its last reading in July, rising above the 50-point threshold that reflects more positive than negative responses for the first time since 2018.

Louisville officer: "Breonna Taylor would be alive" if we had served no-knock warrant

Breonna Taylor memorial in Louisville. Photo: Brandon Bell/Getty Images

Sgt. Jonathan Mattingly, the Louisville officer who led the botched police raid that caused the death of Breonna Taylor, said the No. 1 thing he wishes he had done differently is either served a "no-knock" warrant or given five to 10 seconds before entering the apartment: "Breonna Taylor would be alive, 100 percent."

Driving the news: Mattingly, who spoke to ABC News and Louisville's Courier Journal for his public interview, was shot in the leg in the initial moments of the March 13 raid. Mattingly did not face any charges after Kentucky Attorney General Daniel Cameron said he and another officer were "justified" in returning fire to protect themselves against Taylor's boyfriend.