Inflation was up by 2.5% in August but that is being spun as going down. HA!
Prices in August 2024 were 2.5% higher than they were in August of 2023. That still means that prices are going up, they just went up slower than they did from July 2023 to July 2024. As the Wall Street Journal points out, “Core inflation, a measure that excludes volatile food and energy costs, held roughly steady at 3.2%.”
But the Journal calls this a “cooling streak.” It’s not a cooling streak. Prices are still increasing and they are already too high. Stocks were down on this news.
