From #CNN ... As I've been saying for months, "inflation" stopped long ago. "Inflation" was an illusion created by an arbitrary comparison to one year before.
A year ago, "inflation" was a temporary phenomenon due to the #Russia invasion of #Ukraine at the same time the global supply chain was struggling to recover from the pandemic. Now we're approaching the one-year anniversary of when the supply chain caught up, so no "inflation."
https://www.cnn.com/2023/06/13/economy/cpi-inflation-may/index.html
#Politics #Economy #inflation #Biden
Just looked at the monthly CPI, which is where you can calculate the true inflation rate not tied to an arbitrary annual comparison.
CPI started going down in July 2022. So if you compare today's CPI (304.127) to July 2022 (296.276), inflation for the last 11 months was 2.6%.
But you won't hear that in the news ...