20
Feb
2009
Consumer Price Inflation at 4.9% Annualized Rate
Longtime readers know that I care little for the Bureau of Labor Statistics’ “seasonal adjustments” to their data. If you know where to look in their latest report, you’ll see that the unadjusted index of consumer prices rose 0.4% from Dec 08 to Jan 09, which is an annualized increase of 4.9%.
As I said with regard to the PPI numbers yesterday, a single month’s numbers don’t mean all that much. But I think this is the beginning of the Great Reflation of 2009.
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