The Gilmo Report

June 12, 2022

June 11, 2022 5:23 pm ET

The big story on Friday was of course the Consumer Price Index, which came in hot at 1.0% vs. expectations of 0.7% on a monthly basis. The media again screamed about how the inflation today is as bad as the inflation we saw in the 1970’s. They neglect to mention that back then the government used a much more onerous calculation for inflation which, if used today, would give us a CPI of around 20%.

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