Inflation Remains Subdued in October

The pandemic has played hob with all our normal economic indicators, but it’s still worth paying attention to them periodically. The October inflation numbers were released today and showed no change from September. Headline inflation was 1.2 percent compared to the previous year. Core inflation, which omits food and energy, was up slightly more, but still subdued at 1.6 percent compared to the previous year:

The biggest increase was for used cars and trucks, which increased 11.5 percent compared to a year ago. New cars increased only 1.5 percent, in line with overall inflation.

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

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