We did it, y’all! Get the Champagne on ice and gather the townsfolk because America hath slain the beast known as inflation. (Or, at least, it’s hit a turning point.)
ICYMI: Last month, for the first time in four years, prices on everyday goods and services actually fell. In other words, this June was the first time since the pandemic started that we paid less for stuff compared with the previous month.
The surprise price decline is seismic news, at least among econ wonks and a narrow strata of reporters who follow this stuff with the fervor of a tween Swiftie.
“Inflation is dead, and jobs are alive,” labor economist Aaron Sojourner tells me. “We have a very good chance right now of sticking the soft landing.”
Kit the Coyote
Article URL : https://www.cnn.com/2024/07/12/business/inflation-cpi-biden-nightcap/index.html