How damage from inflation becomes permanent

Sunday, June 26th 2022, 12:47:17 pm
article
The May Consumer Price Index (CPI) inflation rate came in hotter than expected, and the ripple effects are spreading far and wide. But by focusing so much on the inflation rate, we’re missing the bigger picture. The larger story is that all of this inflation is setting a new price level, guaranteeing a new high for prices in the economy for decades to come and further hurting the impoverished and working class.

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