Press reports that inflation is not a threat … except when it is

In the news on Tuesday:

Wholesale prices fell in August by the largest amount in 10 months, reflecting a plunge in the price of gasoline and other energy products and the fourth straight month of falling food costs.

And then Wednesday

Stocks rose moderately Wednesday as Wall Street extended its rally a day after the Federal Reserve’s big interest rate cut.

Any reporter writing on inflation should be required to go down to the local supermarket and talk to shoppers. As the food-shopper-in-chief for the Collateral Damage clan, I KNOW that inflation is a problem and have known for a while. Around here milk is now running $4 a gallon when it’s not on sale. Frozen vegetables — store brand — up about $.20 per package in the last couple of months. I believe it should be part of every Fed chairman’s job that he do his own grocery shopping.

One thought on “Press reports that inflation is not a threat … except when it is

  1. Best metric is the 10 oz bar of Cracker Barrel cheddar cheese.

    18 mos to two yrs ago it was $5 plus, and I was shocked.

    The other day, I noticed it at $7.99.

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