Inflation Continues to Plunge Thanks to Low Gas Prices

The Bureau of Labor Statistics reports that the Consumer Price Index declined 0.8 percent in April, mostly thanks to an oil glut that has caused an 18 percent drop in energy prices:

Economists typically prefer to look at the core inflation rate, which excludes food and energy because they’re too susceptible to outside forces that have nothing to do with actual inflationary pressures (bad harvests, oil embargoes, etc.). The core inflation rate in April ran at 1.4 percent.

That said, ordinary people should pay attention to the headline inflation rate because that’s what affects their actual daily lives. And while this is, I admit, a pretty small bit of good news in the middle of a global pandemic that’s being mismanaged in horrific proportions, it is a tiny bit of good news. These days, I’ll take what I can get.

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Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

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Truth #5: It's about minority rule.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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