Defining Inflation Down Under – WSJ

Defining Inflation Down Under - WSJ

We’re old enough to remember the time — earlier this year — when 5.3% consumer-price inflation was considered high. not anymore. Nowadays when price hikes hit that pace, as they did in August, everyone should relax as it means inflation is coming down.

Only an economist or politician could try to define inflation in this way, and many more would. the argument is that August prices up 0.3% That was slightly slower than 0.5% in July and 0.9% in June. Basic inflation, which does not include the food and fuel that households actually buy, was up 4% at an annualized rate from 0.1% in August or 4.3% in July. The Federal Reserve’s inflation target is 2%.

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