Economics
Why the Inflation Data Is Better Than You Think
By one measure, the consumer price index was unchanged in July, but it’s not the number getting the most attention.
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Inflation might finally be cooling. By one measure, the consumer price index was unchanged in July. There was 0% inflation month over month, down from a 1.3% increase the previous month. But that’s not the number getting the most attention.
Compared with a year ago, consumer prices rose 8.5%. While that’s far from the Federal Reserve’s targeted rate of 2%, it’s an improvement from the 9.1% rate posted in June. So why are reactions to the CPI report so mixed? Bloomberg’s Joe Weisenthal, host of the Odd Lots podcast, explains why the vibes are off to Quicktake’s Madison Mills.