Wanna See Next Quarter's Inflation?

Is the price of gasoline a predictor of inflation?  

Yes, but not because it's gasoline.  It's a petroleum product, like......ohhh.......diesel, heating oil, plastics.....you know:  'stuff you never use'.  

Right?

This chart should give you the willies.  It will certainly give Sponge-Brain-Shits-Pants heartburn.  (Yes, we know that he can't do the math, but his peeps can.)  You noticed that the RATE of inflation went down over the last few months?  Look at the (proxy) price of gasoline.

Then look on the right side of the chart, and notice where that proxy is going......