The endless hamster wheel of inflation
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 12 October 2023
⏱️ 27 minutes
🧾️ Download transcript
Summary
According to the most recent consumer price index, inflation didn’t go up in September. But it also didn’t go down. To fight inflation, does the economy have to run in place, like a hamster on a wheel? We’ll ask a few economists. Also in this episode, Exxon shells out $60 billion to expand operations in West Texas, used car prices go down but remain out of reach for some buyers, and demand for “premium economy” seats drives up airline earnings.
Transcript
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| 0:48.0 | Hey, stop me if you've heard this one before. There was inflation news today. |
| 0:55.0 | From American public media, this is Marketplace. |
| 1:09.0 | In Los Angeles, I'm Kyle Rizdal. It is Thursday. Today, this one is the 12th of October. It is always to have you along. |
| 1:16.0 | Everybody, you know, sometimes you wake up, eager to cover the economic news of the day, and you realize |
| 1:22.0 | that the economic news of the day doesn't really feel like news. |
| 1:27.0 | The consumer price index that came out this morning, data for September, put year over year inflation at 3.7%. |
| 1:35.0 | In August, year over year, 3.7%. Earlier this week, the Federal Reserve Bank of New York |
| 1:43.0 | was out with its survey of consumer expectations, which showed our expectations for inflation. |
| 1:49.0 | They are stable too. So if the news is that there's no news, is that good news? |
| 1:56.0 | Here's Marketplace's Kristen Schwab. |
| 1:59.0 | So to answer the question, yes, there's a reason why the phrase no news is good news exists. |
| 2:05.0 | I'll take it. Of course, it would be better if we were getting news at inflation, we're sorry. |
| 2:10.0 | But we're still progressing. |
| 2:12.0 | Those are economists, Mark Sandee, Kerala Binder and Sean Snaath. |
| 2:16.0 | Sandee at Moody's Analytics says inflation has more or less been stagnant for most of 2023. |
... |
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