Inflation is running wild!

U.S. consumer prices rose in December, bolstering expectations that long-weak inflation is set to gain strength in the new year….Prices rose 0.3% in December when excluding the often-volatile categories of food and energy, the largest increase for so-called core prices since January 2017. Economists surveyed by The Wall Street Journal had predicted core prices would rise a more modest 0.2% versus November.

Needless to say—except that I guess I need to say it—what really matters is the inflation rate compared to the previous year, not the previous month. Here it is for core CPI:

Yes, that tiny blip at the end is the thing that’s “bolstering expectations” that inflation is going up. FFS. Can we please stop this nonsense?

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We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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