Paul Krugman has said: The war on inflation is over; We won, at very little cost

10/13/2023

Paul Krugman has said: The war on inflation is over. We won, at very little cost.

Unusual Whales said, in return: You excluded everything people needed to live. Come on, Paul.

Consumer price increases stayed high in September after picking up over the summer as steady gains in rent and other services offset another decline in used car prices and a smaller rise in gasoline and food costs.

Prices overall rose 3.7% from a year earlier, similar to August's increase, according to the Labor Department’s consumer price index. On a monthly basis, prices increased 0.4% following a 0.6% rise in August that was fueled by a surge in pump prices.

Core prices, which strip out volatile food and energy items and which the Federal Reserve watches more closely as it weighs interest rate changes, remained high. They rose 0.3% last month after 0.2% bumps over the summer. The advance still lowered the annual increase to 4.1% from 4.3% in August, marking the smallest gain since September 2021.

Barclays expects inflation broadly to dip to 3.3% in December and 2.6% at the end of 2024. Core price gains are projected to drift down to 3.7% at the end of the year and 2.8% at the close of 2024.

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