There has always been a general shaping and interpretation surrounding economic news, specifically as it relates to the impact of pricing on consumers and corporations. However, against the backdrop of supply side inflation, the financial gaslighting from the Wall Street Journal stands out at the top.
Without pretending, and looking directly at the Main Street reality, CTH has outlined inflation as a matter of monetary and energy policy. From that standpoint the timing and scale of price increases (inflation measured over time) was predictable. Our current status is an inflationary plateau, where prices remain high but stabilize for likely two quarters.
What the Wall Street Journal outlines as a “shopper rebellion against high prices” is complete hogwash. Notice in the construct of the narrative, the demand side (consumers) is identified as the cause of diminished revenue & profits for corporations. They continue pretending that inflation was not driven by energy costs.
(WSJ) – […] Many companies raised their prices substantially last year to offset higher fuel costs and higher prices for ingredients, parts and labor. As fuel prices have dropped and pandemic supply-chain snarls have eased, some of those costs have come down.
That is a good sign for the economy. It suggests that some inflation in the past year resulted from extreme supply-demand imbalances brought on by the pandemic and the war in Ukraine and which are now fading.
Notice the transparent lack of mentioning ‘energy policy’ as the inflation driver.
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