Stephen Smith 🇺🇦  

We should get the latest monthly numbers tomorrow.

As I've written in past months, "inflation" stopped a long time ago. The number has been misleading because the number released arbitrarily compares to a year before. That was when the global supply chain was recovering from the pandemic, compounded by Russia's invasion of Ukraine. (1/x)

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Stephen Smith 🇺🇦  

Once tapped the Strategic Petroleum Reserve, the Consumer Price Index calmed down. Here are the numbers for a year ago:

March 287.504
April 289.109
May 292.296
June 296.311
July 296.276
August 296.171

As we get into the summer, will magically disappear because a year ago Biden had addressed the oil demand -- which he had predicted would happen after we stepped up to defend . (2/x)

1
Stephen Smith 🇺🇦
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If you look at from June 2022 to March 2023, it's only 1.86% (301.836/296.311).

Regarding the recent polls claiming has poorly managed the economy, that's absurd. By the end of 2023 and early 2024, when we've had more than a year of no "inflation" because the annual number has caught up, Biden's economic poll numbers should improve -- if people bother to pay attention to the facts. (3/3)

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Stephen Smith 🇺🇦  

Called it ... The latest number is out. From :

"Consumer prices climbed 4.9% in April — the first time annual inflation has landed below 5% in two years."

As I wrote upstream yesterday, "inflation" is a fallacy because they compare arbitrarily to one year ago.

nbcnews.com/business/economy/i

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Stephen Smith 🇺🇦  

The April 2023 CPI number is now online. Calculating from June 2022, the number from June 2022 to April 2023 is 2.38%.

But because we choose an arbitrary "one-year" comparison, everyone is scared.

In two months, "inflation" will be all but non-existent.

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Stephen Smith 🇺🇦  

If you want to pick an arbitrary point and compare for yourself, here's the Consumer Price Index page by month going back to 1913.

Guess what?! Since 1913, the rate is 954.4%! Run for the hills! Stuff your money in a mattress! Buy crypto! 🙄

usinflationcalculator.com/infl

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GeorgeG  

@WordsmithFL Oh, that's a tough one for lotsa folks -- paying attention to the facts.

:feather:

😜

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