In a lot of ways, no, it never did really leave. Certainly when we break down the CPI data, we see once again considerable variation regarding inflation.
However, what the "experts" want everyone to believe is that inflation overall is heading in "the right direction". While that arguably was true in recent months, it cannot be said to be true for July. Energy prices in particular are showing a strong reversal of trend and they may not be done rising yet (although I suspect the peak for crude oil prices is not far off).
Confusing the issue even further is that the PPI data which came out this morning is communicating inflationary signals with PPI for Final Demand and deflationary signals with PPI for Intermediate Demand (check back tomorrow for a discussion on that).
Ultimately, this is what we mean when we speak of "stagflation"--when inflationary and deflationary forces manage to coexist in an economy concurrently. Some prices head up, some prices head down, and everyone takes a hit in the wallet one way or the other.
Not sure it ever really left! Unless that's what you mean and I somehow missed it!!!! Linking once again @https://nothingnewunderthesun2016.com/
In a lot of ways, no, it never did really leave. Certainly when we break down the CPI data, we see once again considerable variation regarding inflation.
However, what the "experts" want everyone to believe is that inflation overall is heading in "the right direction". While that arguably was true in recent months, it cannot be said to be true for July. Energy prices in particular are showing a strong reversal of trend and they may not be done rising yet (although I suspect the peak for crude oil prices is not far off).
Confusing the issue even further is that the PPI data which came out this morning is communicating inflationary signals with PPI for Final Demand and deflationary signals with PPI for Intermediate Demand (check back tomorrow for a discussion on that).
Ultimately, this is what we mean when we speak of "stagflation"--when inflationary and deflationary forces manage to coexist in an economy concurrently. Some prices head up, some prices head down, and everyone takes a hit in the wallet one way or the other.