[cinives]

Yeah, I know, my bad, I meant to say the core inflation number.

[rb22982]

Well my point was real GDP growth does subtract the top inflation #, not the core #.

One of the reasons that food & energy inflation is overblown is that we had huge deflation on both (especially energy) in the mid to late 90s..if you went back to 1975 or 1985 and assumed 3% inflation rise annually..it's about what it was back then.