Inflation Continues to Plunge Thanks to Low Gas Prices

The Bureau of Labor Statistics reports that the Consumer Price Index declined 0.8 percent in April, mostly thanks to an oil glut that has caused an 18 percent drop in energy prices:

Economists typically prefer to look at the core inflation rate, which excludes food and energy because they’re too susceptible to outside forces that have nothing to do with actual inflationary pressures (bad harvests, oil embargoes, etc.). The core inflation rate in April ran at 1.4 percent.

That said, ordinary people should pay attention to the headline inflation rate because that’s what affects their actual daily lives. And while this is, I admit, a pretty small bit of good news in the middle of a global pandemic that’s being mismanaged in horrific proportions, it is a tiny bit of good news. These days, I’ll take what I can get.

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WE CAME UP SHORT.

We just wrapped up a shorter-than-normal, urgent-as-ever fundraising drive and we came up about $45,000 short of our $300,000 goal.

That means we're going to have upwards of $350,000, maybe more, to raise in online donations between now and June 30, when our fiscal year ends and we have to get to break-even. And even though there's zero cushion to miss the mark, we won't be all that in your face about our fundraising again until June.

So we urgently need this specific ask, what you're reading right now, to start bringing in more donations than it ever has. The reality, for these next few months and next few years, is that we have to start finding ways to grow our online supporter base in a big way—and we're optimistic we can keep making real headway by being real with you about this.

Because the bottom line: Corporations and powerful people with deep pockets will never sustain the type of journalism Mother Jones exists to do. The only investors who won’t let independent, investigative journalism down are the people who actually care about its future—you.

And we hope you might consider pitching in before moving on to whatever it is you're about to do next. We really need to see if we'll be able to raise more with this real estate on a daily basis than we have been, so we're hoping to see a promising start.

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