Screenshot of a Tweet from Paul Krugman (Recipient of the 2008 Nobel Prize in Economics, New York Times columnist) dated September 15, 2023. The Tweet reads:
An inflation update: in the past I've focused on a measure that excludes lagging shelter and used cars as well as food and energy. Just to note that it adds to the evidence that inflation has been largely defeated
It is accompanied by a line graph titled "CPI ex food, energy, shelter and used cars" with months from January 2018 to May 2023 on the x-axis and "6 month growth, annualized" on the y-axis. Inflation hovers around 1% to 2% up until March 2020, at which point it drops precipitously to around -1.5%. It climbs steadily to a peak of 7% around April 2022, then descends at about the same rate to 2% in September 2023 (the time of the tweet).
It's been dunked on a bunch, but here's the submission with the most comments
https://hexbear.net/post/1040996
Link to Tweet
Image description
Screenshot of a Tweet from Paul Krugman (Recipient of the 2008 Nobel Prize in Economics, New York Times columnist) dated September 15, 2023. The Tweet reads:
It is accompanied by a line graph titled "CPI ex food, energy, shelter and used cars" with months from January 2018 to May 2023 on the x-axis and "6 month growth, annualized" on the y-axis. Inflation hovers around 1% to 2% up until March 2020, at which point it drops precipitously to around -1.5%. It climbs steadily to a peak of 7% around April 2022, then descends at about the same rate to 2% in September 2023 (the time of the tweet).
It's so idiotic, you'd think it was a bit
"If you exclude all the things necessary to live, the economy is doing great"