Wait, This Is The Inflation News Everyone Is Celebrating?

[mystery-ak]

Wait, This Is The Inflation News Everyone Is Celebrating?
I & I Editorial Board
November 15, 2022
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The moment the government’s inflation number came out last Thursday, the stock market rocketed upward. President Joe Biden took a victory lap. It was less than expected! Inflation is cooling off!

Sounds wonderful. Except that prices rose in October by almost 8% year-over-year. That’s four times faster than the Federal Reserve Bank’s 2% target rate. And it marks the 20th consecutive month since inflation has been above the Fed’s target.

It also comes on top of previous record-level price hikes.

When prices started shooting up last year, the White House said it was no big deal because of the “base effect.” They said that prices seemed to be climbing rapidly in 2021 only because the COVID lockdowns had knocked prices down the year before. Since the base was low, the year-over-year comparisons made inflation seem higher than it really was.

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https://issuesinsights.com/2022/11/15/wait-this-is-the-inflation-news-everyone-is-celebrating/

[catfish1957]

Being widely reported that Thanksgiving meals are costing 21% higher this year than last.  Was the same for Halloween fun.  (Candy, Costumes, decorations, etc.)

But.......   We are expected to believe our lying government that  inflation is no worse than 8%?  Brings to mind the old country saying that goes somethng like "don't piss on me and tell me its raining."