34 months into “transitory” inflation, it’s actually going up.

34 months into “transitory” inflation, it’s actually going up. Fresh CPI numbers came in at an annualized 3.7% last month. Compared to 2.8% the previous month, 1.9% the month before that, and under 1% back in October. Spot the trend. This keeps pressure on failing banks. Worse, it raises the prospect of a 1970’s-style stagflation that could last for years.

34 months into "transitory" inflation, it's actually going up.

Fresh CPI numbers came in at an annualized 3.7% last month. Compared to 2.8% the previous month, 1.9% the month before that, and under 1% back in October.

Spot the trend.

This keeps pressure on failing banks.… pic.twitter.com/cWCDtnwzqh

— Peter St Onge, Ph.D. (@profstonge) February 14, 2024

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