Can someone tell me what is up with all the people confusing monthly inflation rates with annual?


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.

https://www.washingtonpost.com/business/energy/how-inflation-can-be-both-0percent-and-85percent-at-the-same-time/2022/08/15/3b711612-1cb6-11ed-9ce6-68253bd31864_story.html


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