The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
the staff of the Ridgewood blog
Ridgewood NJ, in a surprising turn, the Consumer Price Index (CPI) for May remained flat, defying expectations of a 0.1% increase and stalling from April’s 0.3% rise, according to the Department of Labor. Core CPI, which excludes volatile food and energy prices, also showed signs of easing, rising by just 0.2% compared to the anticipated 0.3%.
Continue reading CPI Report Brings Mixed Signals: Inflation Eases but Fed Remains Cautious
the staff of the Ridgewood blog
Trenton NJ, New Jersey’s statewide minimum wage increased by $1.13 to $14.13 per hour for most employees on January 1, 2023.
Continue reading New Jersey’s Minimum Wage Increased to Over $14/Hour January 1st
photo of Janet Yellen
By Charles Stampul
Americans are about to get a long overdue lesson about inflation. It may come as a shock to many CNBC viewers and those working in finance or holding advanced degrees in economics might attempt to refute it, but the word actually means what any child who has used a pump to put air in a ball or tire, might guess. Take out an old dictionary and you will see it’s true. Inflation is not an increase in Consumer Price Index (CPI) or Producer Price Index (PPI), or the Personal Consumption Expenditure (PCE), even if those indexes accurately measured rising prices, which they doubtfully do. Inflation, instead, is the act of increasing the supply of currency. Rising prices is the effect of inflation, not inflation itself. The distinction matters.
