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Just to be pedantic, but the 10% number is the one that is annualized (that is, if an entire year had that monthly rate, what would its inflation be?). It's als
by marcosdumay 1y ago
Just to be pedantic, but the 10% number is the one that is annualized (that is, if an entire year had that monthly rate, what would its inflation be?). It's also not times 12, inflation composes, so it totals to ~11.3%.
The 3.3% figure is annual, normally called "last 12 months" to avoid confusion with a fixed year.
- LargeWu 1y agoI think that what they're saying is because inflation numbers are typically presented as an annual number (3.3%), when you hear a number like 0.9% it sounds lower to somebody who is not economically literate. "Prices increased 0.9% in July, which would translate to an annual inflation rate of 11.3%" is one way to say it with more clarity. Also, Trump has a habit of picking numbers out of context when they suit his personal narrative. For example, not long ago he said something like "The price of gas is down to $1.98 per gallon" when in fact that that number was something along of the lines of the wholesale price. So it's no wonder people are misinformed when they get misleading economic information.
- marcosdumay 1y agoYes. I was just pointing that the names are the other way around. The OP's argument is correct.