Last updated on July 18th, 2023 at 01:50 pm
Private sector inflation reports suggest that inflation is reaching its peak and is expected to improve after the current month.
The screaming headline that the corporate media will be going with:
Inflation surges to 8.5%, highest in over 40 years https://t.co/GvZCfDbL6u
— Alayna Treene (@alaynatreene) April 12, 2022
Supply chain problems remain an issue in certain sectors:
There are areas where inflation is dropping:
#CPI prescription drug prices fill 0.2 percent in March up 2.2 percent YOY
— Dean Baker (@DeanBaker13) April 12, 2022
Private reports suggest that good news is on the horizon:
Inflation is a very important concern right now, but breathless headlines overstate the point.
Most private-sector forecasts see inflation as peaking this month or maybe next (if more bad things don't happen), so hold on… things may be about to get better.
— Justin Wolfers (@JustinWolfers) April 12, 2022
The dual impact of supply chain issues and energy prices have been a driver of inflation, but there are signs that the inflationary fire looks to be burning out.
If reports of Russia wanting their invasion of Ukraine to be concluded by May 9th are accurate, gas prices could also be in for a summer tumble.
The mainstream media is going to treat inflation like it is the biggest problem in the world until inflation starts to drop, and then the American people will never hear about it again.
Our corporate press has decided that Joe Biden is Jimmy Carter, so they will accentuate the negative in all of their coverage of the economy today.
Republicans are hoping for high inflation and high gas prices in November, but if the private reports and underlying metrics in today’s new report are correct, they may get neither and be left with nothing to inspire voter anger as the driver of their dreams.
The inflation number isn’t pretty, but beneath the GOP/corporate media narrative are signs of better days ahead.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association
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