US credit score downgraded, inflation at it's highest in years, interest rates at highest point in 26 years. And this is your president.
(media.greatawakening.win)
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Inflation is 3% now.
Last year it was high
Inflation using the weighting scheme of the CPI is currently running at 13% since Biden took office (Jan 2021 - June 2023). We would have to see months of negative inflation for prices to be remotely close to Trump pre-covid era levels. The 3% means inflation continues to grow, albeit at a slower rate, but it is nothing to cheer about. If the weighting scheme correctly referenced food and fuel the 13% would be significantly higher. Way to go FJB.
I would disagree with "is currently running" as way of describing it. Because nobody ever uses that over a multiyear time frame. Nobody said inflation is running at 6% over the first three years under Trump because that's not how it's used.
I do agree that the increase compounds that way.
But if you look at the chart you see a sharp increase and a sharp decrease.
https://www.bls.gov/opub/ted/2023/consumer-prices-up-3-0-percent-over-the-year-ended-june-2023.htm
If it was bad news when it went up, it's good news when it comes down. And it's good news it's coming down sharply. May the trend continue. You almost never get an instant reversal.
Running = Actual rate for Jan 2021 - Jun 2023.
Yes 3%, is better than any number above 3%.
13% and growing does not reflect sound economic policy. Then again we have not had sound policy since the Fed was born. $1 dollar today is worth $0.03 of 1913 purchasing power. It has become close to worthless. Might as well completely finish it off. Get to it FJB.
Every instance of this search "inflation is currently running at" does not use it the way you use, including the WSJ, The Fed of KC, the Financial Times, and other financial heavyweights.
You are using it a cumulative sense. Every usage I've found references the current rate of inflation would mean the answer to "What is inflation currently running at?"
would be 3 percent.