Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September.

Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September.

  • shortwavesurfer
    43·
    3 months ago

    Multiply that by 3 or 4 and you might get close to a real number.

      • yggstyle@lemmy.world
        11·
        3 months ago

        Yep. There’s a reason they exclude power, food, fuel etc from those calculations… it looks fine on paper but reality is obviously quite different.

    • yggstyle@lemmy.world
      33·
      3 months ago

      Yeah, that’s the joke lol. If you just don’t add anything inflationary it magically is “under control.”

      • shortwavesurfer
        22·
        3 months ago

        Some inflation is not a problem. After all gold inflation is 1.6-1.8% per year according to the World Gold Council and many cryptos such as Monero have even less than that. Replacement levels of inflation are not a bad thing but uncontrolled fiat printing definitely is. Giving one group of humans the ability to control what everybody sees as money is guaranteed to cause that group of humans to act in their own self-interest and hurt everyone else.

        • yggstyle@lemmy.world
          12·
          3 months ago

          Inflation isn’t inherently bad: an overheated economy, which is the result of inflation, is. This is basically where we are right now. Had the fed not gotten cold feet when they halted the rate increases we’d be in a far better position right now (sans a few banks with bad balance sheets.)

          The fiat currency discussion gets murky quickly as most everything’s value is relative and derived from something else’s value. Crypto is no different and arguably has its own set of issues.

          Ultimately regardless of the currency we as a world introduced a ton of what should have been temporary wealth during the COVID period into the markets to save lives and businesses. That money needs to go away to restore balance to the economies. This means a negative inflation rate, or put differently, deflation.

          • shortwavesurfer
            22·
            3 months ago

            But deflation is a boogeyman according to them and they do not want that to occur and strive to do everything in their powers to prevent it.