Inflation is running wild!

U.S. consumer prices rose in December, bolstering expectations that long-weak inflation is set to gain strength in the new year….Prices rose 0.3% in December when excluding the often-volatile categories of food and energy, the largest increase for so-called core prices since January 2017. Economists surveyed by The Wall Street Journal had predicted core prices would rise a more modest 0.2% versus November.

Needless to say—except that I guess I need to say it—what really matters is the inflation rate compared to the previous year, not the previous month. Here it is for core CPI:

Yes, that tiny blip at the end is the thing that’s “bolstering expectations” that inflation is going up. FFS. Can we please stop this nonsense?

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THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

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