Inflation: Prices went up – not down
This headline shot across the internet: Slowing US Inflation Eases Pressure on Households
I confess, I’m a sinner. I’ve made plenty of mistakes. But when I read that headline – and the story beneath it – I thought: Don’t they teach math in journalism schools? My second thought was: Why do reporters spin tales?
The CPI announcement, in the story, was about the inflation rate – not prices. The inflation rate did go up less. But it still went up. So prices didn’t fall – they continued to go up.
If you spent $100 dollars on groceries in January 2020, you would have had to spend $118.27 in June 2023 for the same purchase. Groceries are more expensive this year than last year. And prices are still rising.
If your house is on fire and firefighters slow the flames that’s good news – but your house is still burning.
When you’re struggling to get by, and looking for a second job to make ends meet, the world is not looking better.
Worse, history is packed with examples of inflation turning into runaway inflation. Still, while not easy or painless, controlling inflation can be done.
Politicians spent money they didn’t have, piled up trillions in debt, and inflation hit. Politicians created the problem – and politicians can’t fix it. To get our economy back on the right track we need honest leaders with common sense – who’ll tell politicians, No more. Enough. Stop.