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The economy remains a top concern for US voters ahead of the presidential election
(www.scrippsnews.com)
this post was submitted on 17 Jun 2024
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As I quoted in my comment, wages are rising faster than inflation, which means that purchasing power is increasing.
If what someone wants is for deflation to be induced and prices to drop in absolute terms, that's not going to happen; creates a mess of problems.
Which inflation rate are you quoting, the true rate including food and fuel or an abstraction that ignores those inelastic categories?
I don't know what they're using, but the CPI -- what most people use when referring to "inflation" -- incorporates food, and food inflation over the past year is lower than any other component. So they're not gonna wind up with a lower rate of inflation by excluding food.
12 months is a poor timeframe to use for inflation when the most relevant data to consumers today is 2021-2022, and again fuel is required to function in the US which I don’t see in CPI making it a poor indicator for real finances. Really though my point is metrics can be manipulated to sound good or bad but ignoring consumer sentiment is foolish for a politician seeking to be elected by those consumers.
The most relevant data is the most recent data.
I don't care about 2022 data, because I'm no longer paid in 2022 dollars or paying 2022 prices.
By that logic we should only read last months data and forget the rest of history, but in reality people have memories and incorporate previous experience in their sentiment.
The most relevant data is the most recent data. You don't have to "forget the rest is history", but it is less relevant than the present.