Inflation fell in April to 3.4 percent, reverses trend -The Hill
Historical perspective:
Economy under Reagan, when he bragged about "Morning in America" in Sept. 1984:
• 7.3% unemployment, 4.3% annual inflation
Economy under Biden today:
• 3.9% unemployment, 3.4% annual inflation
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I've seen a number of different reports today that say today's inflation increase is highly concentrated in insurance, housing, utilities and medical care. PPI is back down to 2.2% and durable goods orders are softening. The bills that people must pay every month are still seeing 1984 levels of inflation while yachts and private jets are coming down in price.
