“Inflation Heated Up in January, Freezing the Fed” (Wall Street Journal, today):
Consumer prices rose 3%, as fight against inflation continues to face headwinds
So prices are going up 0.247 percent per month, the rate that compounds to 3 percent after 12 cycles?
Consumer prices rose briskly in January, extending a recent pattern of price increases at the start of the year that likely derails the prospect for Federal Reserve rate cuts anytime soon.
The Labor Department said Wednesday that prices rose last month 0.5% from December on a seasonally adjusted basis.
0.5 percent per month works out to 6.17 percent annually.
So… the current inflation rate is 6 percent and we are told that it is 3 percent.
Related:
- Leftover Inflation? (November 2024, on the spiral)
- Can our government generate its own inflation spiral?
- Economist answers my question about high interest rates and high deficits
If you’re looking for a Valentine’s Day present that won’t break the bank, a piston-powered Cirrus SR22 for $1.2 million:
(Don’t forget state income tax on top of this unless you live in one of the states that sensibly doesn’t tax aircraft purchases (Maskachusetts being a surprising example!).)
If we specified pre-Biden delivery terms of 4 months, the price would be higher. Cirrus currently has 1.5-2-year waiting list.
That is for Non-Turbo Cirrus. So if you enjoy flying west of Mississippi, above the turbulence layers between 5k to 9k or avoid ice layer in winter, add $120k!