Two recession Indicators

Planet Money

NPR

Business, News

4.6 • 29.8K Ratings

🗓️ 29 July 2022

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

So are we in a recession or not? The jury is still out, but there are some warning signs. GDP is down and inflation is up. But how much do we know about the 'indicators' that tell us how the economy is doing? Today, the stories of two of our most important indicators, the Consumer Price Index and GDP, and what they can and can't tell us about our current economic predicament.| Subscribe to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

Transcript

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0:00.0	This is Planet Money from NPR.
0:06.3	This week we got two important developments in our ongoing national what the heck is going
0:11.2	on in this economy saga.
0:13.8	First on Wednesday, the Federal Reserve again raised interest rates by three quarters
0:18.0	of a percentage point.
0:19.8	Another tick upward in its ongoing battle to reduce the rate of inflation.
0:24.6	Then on Thursday, the Bureau of Economic Analysis released numbers that say gross domestic
0:29.4	product GDP declined by an analyzed rate of 0.9%.
0:35.3	All the while, the White House and the Fed say we're not in a recession.
0:39.3	Yet, woof!
0:41.1	Hello and welcome to Planet Money, I'm Whalen Wong.
0:44.2	If all of these developments leave your head spinning, don't worry.
0:47.8	Our daily podcast, The Indicator, is here to help.
0:51.0	Today on the show, we have two stories about some of the numbers we pay closest attention
0:55.4	to while measuring the health of our economy.
0:58.2	The CPI, consumer price index, and the GDP.
1:02.0	We're going to explore what these numbers actually mean, and also whether we should be thinking
1:07.0	about them differently.
1:09.0	Adrian Mayn, I start by looking at how shopping for groceries might affect inflation, without
1:14.6	actually contributing to economist-preferred measure of inflation.
1:19.5	That's after the break.
1:28.1	Money is running at 9%.
	...

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