"In the United States, the producer price index increased 6.9% in the year to March, while that for crude goods increased more than 30%. Like a bowling ball swallowed by a python, that inflation will move through the economic system and eventually be reflected in consumer prices. Indeed, it may already be showing up there; the seasonally unadjusted consumer price index for March was up 0.9% (an annual rate of around 11%) and only a heroic seasonal adjustment of 0.6%, double the next largest seasonal adjustment for any month in the last ten years, brought the figure down to an acceptable 0.3%."
The biggest "seasonal adjustment" in the last ten years? And the best it can do is bring March's annualized inflation to almost 4%? We're freaking doomed!
Richard Daughty mixes humor with economic news which is either disguised or ignored by most media.
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