"The Inflation Victory Lap: Krugman's Claims and the Omitted Costs"

Economist Paul Krugman has declared victory over inflation, claiming that the "war on inflation is over" and that we won at "very little cost." However, critics argue that Krugman's calculations are flawed as he measures inflation using a narrow definition that excludes food, energy, shelter, and used cars. The Consumer Price Index (CPI), which includes these factors, was 3.7% in September, higher than forecasts. Additionally, wage stagnation and the perception of a struggling economy among average Americans suggest that the battle against inflation is far from over for many.