“Experts” assured us inflation would be minor and temporary. A year ago.
Data indicates high inflation and hints the economy – after accounting for inflation – may have shrunk in Q3:
Net of inventory accumulation, real GDP for the third quarter was slightly negative, US government data released Thursday morning show. Real GDP grew at an annual rate of 2%, below the forecasters’…
Source: US GDP data show stagflation – Asia Times
That means “staglation“.