President Joe Biden - Kamala Harris Administration

I love how inflation not growing as fast as before is considered a win

https://www.cnn.com/2022/12/01/economy/pce-inflation-report-october/index.html

Prices rose by 0.3% in October compared to September, the same monthly increase as in each of the previous two months.

Stripping out volatile food and energy, core PCE rose 5% over the last 12 months and 0.2% month on month. That compares to September’s upwardly revised 5.2% annual increase and a month-on-month jump of 0.5%.

The 12-month gain in core PCE matched the forecasts of economists surveyed by Refinitiv, while the one-month gain was slightly lower than the 0.3% rise that had been forecast.
 
60% overall inflation over 21 years translates into a 2.3% inflation rate and is on target with the Fed inflation rate. As I’ve said before on this graph this isn’t the flex you think it is.

21st root of 1.6 = 1.0226 or 2.3% average inflation. 🤷‍♂️

I’d encourage you to contrast this graph with monthly YoY inflation for the last year and you now have a compelling message.
 
Advertisement





Back
Top