6 percent inflation

Consumer prices – lifted by more expensive gasoline, airfares and clothing – rose by 0.5 percent in March, raising questions about whether the seeds of unwanted inflation are being sown.

Not that the CPI is the least bit accurate, but it’s interesting that despite every effort to hide inflation, it’s still running at a 6 percent annual rate. What’s also amusing to me is that when the monthly rate is low, the annual rate is reported. When it starts getting higher, the annualization mysteriously vanishes. It doesn’t make those money market rates look so good, now, does it.