Turns Out... Inflation Was Transitory | Weekly Round Up
Supply Shock
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CPI Is Going to the Floor. The Puke Gravity Works
I am a total deflationist, right? I think we are headed for serious deflation for the next decade. And so the whole inflation is transitory was true. When the number was going up, when the CPI was coming up, and everybody's freaking out, I was like, guys, 75% of it is oil and use cars. So you can kind of see on that on that chart on the left, the pink bar, that's really what's what's dragging the number down. What's sort of supporting that number is services, excluding food and energy. Those are the two countervailing forces that are sort of balancing each other out.
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