MinotStateBeav said:
When you get so beaten down by the internet you should quit at this point.
Just exclude food, shelter, fuel and cars!!!! WE WON!!!
A lot of my friends buy 5 or 6 used cars per week, so inflation was a real issue for them in 2022 but it's improved greatly this year. Said no one ever.
Fuel, food and shelter are reasonable to separate because they move up and down for reasons that aren't connected to the core inflation problem we were facing. Core inflation (ex food and energy) has long been seen as a better measure of inflation. Shelter is a weird lagging indicator that will continue to show elevated inflation for months after prices stabilize due to the way it is calculated. Used cars is a weird one - they went way up in price and are now way down (8% yoy) so it's not like he did that to help the numbers.
This article has a pretty good detailed chart of where we are. Couple of points - food at home is up only 2.4% year over year, but food away from home is up 6%. Energy is down 0.5% year over year, while gas is up 3%.
I know people think that the president controls gas prices, but that's never been the way the world works. The US is at an all time high in energy production and by measures I've seen we are more "independent" than ever (eg we produce more than we use by the highest amount since people started counting this stuff in like 1950).
The problem is that the GOP was always lying to you about energy independence. It's close to meaningless. Gas prices are set by OPEC+ and regardless of how much oil we pull out of the ground in the US, Chevron/etc. are going to sell at the market price. So they are making a killing again and we're paying for it at the pump, even though we are extracting more American oil than ever before.
If you were interested in a nuanced conversation, we could look at how shelter is calculated and why it will make it seem like inflation is elevated for months after it stops. That influence is expected to wane over the next few months not because housing will become cheaper but because of the way it is calculated.
If you just wanted to post a tweet showing that inflation has come down, that's cool too.