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Goodbye to Inflation?
by Brian Maher Daily Reckoning
CNBC gives the day’s headline news:
Inflation fell to its lowest annual rate in more than two years during June, the product both of some deceleration in costs and easy comparisons against a time when price increases were running at a more-than-40-year high.
The consumer price index, which measures inflation, increased 3% from a year ago, which is the lowest level since March 2021.
Yet why? Why has inflation sunk to its lowest ebb in over two years?
Is it because the Federal Reserve has successfully wrung inflation from the economic system?
Or is it because recessionary pulls have exerted drag upon the consumer… and he has reined his spending?