Krugman Declares Premature Victory Over Inflation as Americans Still Struggle
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Economist Paul Krugman declared victory over inflation using a narrow measure that strips out food, energy, shelter, and used cars from CPI.
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Critics argue Krugman's measure doesn't reflect the real economy and highlight a gap between economists and average Americans.
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Headline CPI inflation was 3.7% in September, higher than forecasts and the Fed's 2% target.
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For most Americans, the battle against inflation isn't over until wages increase enough to support families.
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Krugman's premature victory lap contrasts with 35% of Americans surveyed saying the economy is "very bad."