Invesco QQQ (QQQ): ETF Research Reports And if these figures begin to prompt one to think how the Fed is absorbing this data, the Control number — which works its way higher up the economic food chain — came in at a whopping +4.8%. Combine this with the CPI, PPI and other economic data recently putting out year-over-year figures at or near record highs, and it's more grist for the inflation story.