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That is the traditional number reported for inflation. If a news source says “inflation was x%” I understand that to mean “CPI is x% higher than 12 months ago”
by kristjansson 4y ago
That is the traditional number reported for inflation. If a news source says “inflation was x%” I understand that to mean “CPI is x% higher than 12 months ago”. It’s still a terrible way to present the information, for the reasons you point out.