Subject: Re: The Berkshire Problem
CPI in recent 6 months (December 2022 to June 2023) is actually only 0.2%

Sorry for that confusing typo; CPI inflation (seasonally adjusted) in that period was not 0.2% (that was the June to July inflation.) As I said further along, 6-month inflation (not annualized) was 1.7%, and 12-month inflation was 3.8%. My point was just that non-annualized inflation from January to July was considerably less than 3%.

dtb