I've seen not a just a handful, but dozens of comments seemingly confusing the latest CPI with annual inflation. I've seen comments literally state inflation rose 8.5% last month (as in prices rose 8.5% in a single month) with hundreds of upvotes.
Am I taking crazy pills or missing something? Wasn't inflation for July literally 0% MoM?
It's still 8.5% annual but correct my understanding, that IS the combined total rate. The annual rate is a combined total of multiple months. 0% inflation one month will only bring the annual down a little bit because the annual rate is measuring 12 months, not one.
Yet I keep seeing bears say the exact opposite and saying the market is acting irrational.
There's even a Washington Post article on this topic.
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