Krugman Mocked for Claiming Inflation Over After Excluding Key Expenses
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Paul Krugman claimed inflation is over if food, energy, shelter, and used cars are excluded from CPI, drawing online mockery.
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Critics noted the excluded categories are major expenses for most Americans.
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The overall CPI rose 3.7% in September, exceeding expectations.
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Krugman later said his claim was too flip and acknowledged flaws in excluding key expenses.
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Though inflation slowed a bit, core CPI held steady, and gas prices were a large contributor to the overall increase.