You can bet a raid or two that the Sponge Brain Poopy-Pants regime will declare that 'inflation is retreating' based on the July report, in which the inflation rate (Y-O-Y) is down to a mere 8.5% compared to June's 9.1%.
They'll be lying, of course.
That's because it's Y-O-Y. But if you look at LAST July's inflation rate of 5.4%........well, that makes a difference, no? Because with a 5.4% 'head start,' this July's number almost had to be less than June's. Reality? Price inflation is up FOURTEEN POINT FIVE++ percent over 2020.
But the Gestapo-and-Giveaway bunch will lie like Hell about it.
It's what they do.
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