(Mike Maharrey, Money Metals News Service) If you’re reading the headlines, you know that the Consumer Price Index (CPI) came in even cooler than expected. And the expectation was for a much cooler CPI thanks to falling oil prices. However, the CPI doesn’t tell the entire inflation story.
The CPI measures price inflation. That is just one manifestation of monetary inflation (the way economists used to define “inflation”). While price inflation has cooled dramatically, there is still plenty of inflation in the pipeline.
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