Where is inflation headed for 2024?

For full disclosure I am in the "lower inflation" camp, BUT I must admit that I see a lot of leading indicators of inflation that are pointing higher ... at least for a quarter or two. This could have MAJOR implications for the Fed in 2024. This chart shows the OECD Leading Economic Index (a gauge of global economic prospects) and the Conference Board's Lagging Economic Index (the larger moving parts in this one are Services CPI and wage inflation). I need to think about it a little more seriously ... irrespective of how I feel about inflation in the longer term. It could pop higher for a few months and push out a true Fed pivot to a later date. Hmmm ... keeping an eye on this one. Happy Wednesday. FT