inflation is still too high
The largest newspaper in the US, which is also the largest newspaper to endorse Harris, and which hasn't endorsed a Republican for President since 1956 -- The New York Times -- this morning has a "news" article titled "Inflation Is Basically Back to Normal. Why Do Voters Still Feel Blah?"
But inflation isn't back to normal. If you look at the core consumer price index, the version of inflation experienced by consumers that doesn't include food or energy (and so is less volatile, so measures persistent inflation better), it sits at 3.3%. The core consumer price index was never this high from 1993 through 2020, and was only higher during the recent burst of pandemic-trillions inflation. I wouldn't argue that inflation is back to normal until core inflation returns to its 30-year normal range between 1.5-2.5%.
Democrats, and their leading newspaper, keep thinking they can trick voters into thinking that Biden/Harris fixed the inflation problem.
The article says inflation is "more or less" back to normal, is "basically" back to normal --> these slangy modifiers indicate the underlying truth that inflation is NOT back to normal, while sounding positive about the NOT.
The article says people are upset about the price level, not continuously rising prices. Also, the article admits that people are upset about the cost of housing, which has increased faster than inflation because of mortgage interest rates, which are not counted in the price index.
Sure, people are upset about these two things, the overall price level, and the cost of housing. But inflation hasn't returned to normal yet.
But inflation isn't back to normal. If you look at the core consumer price index, the version of inflation experienced by consumers that doesn't include food or energy (and so is less volatile, so measures persistent inflation better), it sits at 3.3%. The core consumer price index was never this high from 1993 through 2020, and was only higher during the recent burst of pandemic-trillions inflation. I wouldn't argue that inflation is back to normal until core inflation returns to its 30-year normal range between 1.5-2.5%.
Democrats, and their leading newspaper, keep thinking they can trick voters into thinking that Biden/Harris fixed the inflation problem.
The article says inflation is "more or less" back to normal, is "basically" back to normal --> these slangy modifiers indicate the underlying truth that inflation is NOT back to normal, while sounding positive about the NOT.
The article says people are upset about the price level, not continuously rising prices. Also, the article admits that people are upset about the cost of housing, which has increased faster than inflation because of mortgage interest rates, which are not counted in the price index.
Sure, people are upset about these two things, the overall price level, and the cost of housing. But inflation hasn't returned to normal yet.