Economic Schizophrenia strikes again!

Veris Oeconomica

Economic Schizophrenia: The tendency for reports and statistics about the state of the economy to contradict one another.  Usually occurs while comparing reports issued by a private sector firm to reports issued by a government entity; or while comparing reports issued by two different government entities; or while comparing two different reports issued by the same government entity.  Because government is crazy that way.

The Bureau of Labor Statistics says that prices didn’t change in July 2022, and are up only 8.5% since July 2021.

The Consumer Price Index for All Urban Consumers was unchanged in July 2022 (seasonally adjusted) after rising 1.3 percent in June and 1.0 percent in May. Gasoline prices fell 7.7 percent in July and offset increases in food and shelter prices, resulting in the index for all items being unchanged in July. From July 2021 to July 2022, the index for all items…

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