The CPI goods index showed a rise in price of 5.5 percent over the last year. The price of imported manufactured goods rose by 6.3 percent. The implication is that if we look at the inflation in a roughly comparable set of goods, in similar countries, it was actually greater than the inflation we see in the United States.
I would strongly recommend adding The Center for Economic and Policy Research and Dean Baker to your daily news reading.
Please share widely!
To expand on the piece’s answer to the question asked in the title: No!.
Here’s the money quote (emphasis mine):
What this article does not address is the role that seditionist sabotage and vandalism — explicitly promoting false anti-vax conspiracy theories and absurd claims that vaccine mandates are an assault on individual liberty — play in creating the inflation that now plagues us.
An important part of the current inflation is dramatic price increases driven by supply chain disruptions. Another important factor is price increases driven by workers sidelined by COVID infections — directly caused by their own choice to refuse vaccination.
Today’s GOP is using every weapon it can find or invent to create chaos and suffering that it then blames on Democrats and Joe Biden. It funds this insurrection with fraudulent claims broadcast on right-wing media (like Fox).
Inflation in Europe is NOT Joe Biden’s fault. Neither is inflation in the US.
And from my perspective, more proof that the media is not liberal on economic issues. The media is not a friend of the working class.
The media is even less a friend of truth than it has been historically.
It is ironic that in a time of unparalleled access to raw information and data, it is as hard to find curated, unbiased, and factual news than it has ever ben.
Among the basic assumptions of our political system is a “Fourth estate” that makes at least some effort to keep the playing field even for all players.
That Fourth Estate is now lying in smoking ruins. Rising from the rubble are scattered shiny new high-rises with sealed facades erected by the ultra-wealthy for the ultra-wealthy.
I was watching Fox News this morning, as I do in order to learn where some people are getting their strange notions, and as if required, they ran an anti-vaccination story, this time about Djokovic and his anti-vax position. The “expert” on the subject told his audience that even President Biden was ant-vax in the early days of Covid and this was just a partisan attack on a freedom loving tennis pro.
Of course, as we all know, the Fox News HQ in NYC has a vaccine requirement to enter its facilities.