Mises Wire
Author:
Joseph T. Salerno
Online Publish Date:
The Bureau of Labor Statistics (BLS) and the media reported the inflation rate—that is, the Consumer Price Index ‘s rate of increase—to be 1.3 percent for June 2022 and 9.1 percent year over year (for the last twelve months). This shocked markets and investors because economists’ median forecast had been 1.1 percent for June and 8.8 percent