The Power of Minus

David Altig points out that given the recent decline in gasoline prices, we?re likely to see a negative headline inflation number by June. What will the inflationistas say?

But then, we did have negative headline inflation, even on an annual basis, for much of 2009. Somehow that didn?t stop the inflationistas from panicking.

Of course, all this is why we need something like core inflation, so as not to overreact to short-run fluctuations.

Source: http://krugman.blogs.nytimes.com/2011/06/14/the-power-of-minus/

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