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April 12, 2022~Much is being said today about inflation at 8 1/2% but when you pull out volatile food and gas out of the equation inflation is at 6 1/2.
But you have to read several paragraphs before get that information in the mainstream media.
“The data reflected price rises not seen in the U.S. since the stagflation days of the late 1970s and early ’80s.” PANDEMIC RELATED!
“March’s headline reading in fact was the highest since December 1981. Core inflation was the hottest since August 1982.” PANDEMIC!
However, core inflation appeared to be ebbing, rising 0.3% for the month, less than the 0.5% estimate.
And the 6.5% was in line with estimates.
So with a pandemic occurring, clogging the supply chain, Ukraine War, gas companies gouging drivers, the core estimate came in exactly where it should be.
Inflation was 5.5% and 3.6% in Nov. and Dec. 2021; 6.0%, 6.4%, and 6.5% in the first three months of 2022.
So chill out, with an economy that created 7 million jobs and is bouncing back from a pandemic this is to be expected which is why they estimated 6 1/2% as a core inflation.
